Bank of Ipswich v. Brock

Citations

• 13 S.D. 409
• 83 N.W. 436
• 1900 S.D. LEXIS 161

Syllabus

<p>1. Defendant, who had executed two mortgages on his land (one in 1884 in favor of M., and one in 1887 to G.), applied to plaintiff for a loan; and plaintiff paid M’s mortgage, under an agreement with defendant that he would secure a release of G.’s mortgage, and instructed the register of deeds not to discharge M.’s mortgage of record until defendant had secured s'uch release. Defendant failed to secure the release from G., and the register of deeds discharged M.’s mortgage by mistake. Held that plaintiff was entitled to be subrogated to the rights of M.</p> <p>2. Plaintiff, to whom defendant had applied ■ for a loan, agreed to pay one mortgage on defendant’s land if defendant would secure the release of another mortgage on it, and, on making the payment, instructed the register of deeds not to discharge it of record until the defendant secured such release. Held that, where the register of deeds discharged the mortgage paid by plaintiff through mistake, plaintiff was entitled to have such discharge set aside and the record of satisfaction canceled.</p> <p>•3. Plaintiff was entitled to foreclose M.’s mortgage, and to a decree for the sale of the land to satisfy the debt and costs.,</p>