Aaron & Lindenmayer v. Warner

Citations

• 62 Miss. 370

Syllabus

<p>1. Lien. Ear purchase money. Judgments on notes. Different creditors. Equal rights.</p> <p>Where, upon promissory notes given for the purchase-money of land and Secured by an express lien or equitable mortgage in the deed of conveyance, several judgments are rendered, in favor of two different holders of such notes, against the maker, each of the judgments is entitled to share in the proceeds of the land, even though one may have been recovered and enrolled before the other.</p> <p>2. Same. Several judgments on secured notes. Chancery jurisdiction to apply security pro rata.</p> <p>And if the defendant in such judgments, being the maker of the notes, is insolvent and the land is insufficient in value to satisfy in full both judgments, and the owner of the one first obtained and enrolled attempts to exclude the owner of the other by selling the land under his execution, and appropriating the proceeds to the satisfaction of his judgment, the other judgment creditor may resort to a court of chancery to compel a sale and pro rata distribution under its orders.</p>