McLean v. Hoehle
McLean v. Hoehle
Opinion of the Court
The sole question raised on this appeal is, Did the payment by Edgar C. Mehan as subsequent mortgagee, to the sheriff who made the foreclosure sale, of the amount called for by the certificate of sale on such foreclosure, entitle him to a deed to complete such sale, conveying to him all the right, title, and interest which the makers •of the first mortgage had at the time of the execution thereof, thereby extinguishing all further claim under such first mortgage? That question must be answered in the ■affirmative on the plain, unmistakable meaning of the statutes governing the subject, as they existed when the proceedings in question were had. Sec. 3533, R. S. 1878, then provided that the mortgagor, whose lands were sold on the foreclosure of a mortgage by advertisement, might, within ■a time stated, redeem the same by paying to the purchaser, his executors, administrators, or assigns, or to the sheriff, under-sheriff, or deputy sheriff, who made the sale, the sum of money bid therefor, together with interest on such sum, as therein prescribed, whereupon the sale and certificate of sale should be void. Sec. 3534, R. S. 1878, provided that if redemption wTere not so made, the officer, or his successor in office, or other person who made the sale, or his executor or administrator, or some person apjminted by the circuit •court for the purpose, should complete such sale by executing a deed of the premises to the original purchaser, his as-signee or personal representatives, or to any subsequent mortgagee who may have redeemed the same as provided in sec. 3540. The last-named section provided that any subsequent mortgagee might redeem the mortgaged premises
'It is needless to discuss the subject of whether the foreclosure was of an indebtedness constituting a separate and distinct mortgage under sec. 3525, E. S. 1878, for if such were the case, there being no stipulation In the mortgage securing the instalments of indebtedness equally, the different instalments took precedence in the order they fell due; and a foreclosure under a prior instalment, completed by the execution and delivery of a deed, cut off all claims under subsequent instalments, the same as the foreclosure of any prior mortgage cuts off all claims under subsequent mortgages. Pierce v. Shaw, 51 Wis. 316.
No injustice is perceived because the statute leads to the result above indicated, as the first mortgagee had ample opportunity to protect himself by bidding the property, at the sale, up to a fair value; but if it were otherwise, the wisdom of the statute is not a matter for this court to determine.
By the Court.— The judgment of the circuit court is affirmed.
Reference
- Full Case Name
- McLean v. Hoehle and others
- Cited By
- 2 cases
- Status
- Published
- Syllabus
- Foreclosure of mortgages: Redemption by subsequent mortgagee. ■Secs. 3533, 3534, 3540, R. S. 1878, provide that the owner of lands sold on the foreclosure of a mortgage by advertisement may redeem therefrom, and that if redemption be not made the sale shall be completed by the making of a deed to the purchaser, his assigns or personal representatives, and also provide that if the owneifails to redeem, any subsequent mortgagee may do so and will-thereby become entitled to a deed completing such sale. Held, that the bona fide holder of a mortgage, though given after the foreclosure sale, who redeems therefrom, is entitled to a deed to complete the sale, which deed will vest in the grantee all the title of the mortgagor at the time of the making of the first mortgage, and cut off all further claim under such first mortgage. [Syllabus by MARSHALL, J.]