Bishop v. O'Conner

Citations

• 69 Ill. 431

Syllabus

<p>1. Judicial sale—rule of caveat emptor applies. It is a general rule, subject to fexv, if any, exceptions, unless it be when a fraud is practiced upon the purchaser, that the doctrine of caveat emptor applies in all judicial sales, for the reason that the officer selling has no power to warrant title or impose terms or conditions on the sale, beyond those required by law, and because the purchaser is presumed to have examined the title and to know what he is acquiring by his purchase.</p> <p>2. Same—officer selling exercises only a naked power. It is the policy of the law to invest the sheriff, master in chancery or administrator, in making sales of real estate, with only a mere naked power to sell such title as the debtor or deceased had, without, warranty, or any terms, except those imposed by law. Hence, a purchaser at such sale takes the risk of the title, and the validity o'f the proceeding under which the sale is made, upon himself.</p> <p>3. Subtíog-atioit—in what eases it applies. The doctrine of subrogation in equity is confined to the relation of principal and surety, and guarantors, and to cases where a person, to protect his own junior lien, is compelled to remove one which is superior, and to cases of insurers paying losses. In the first class named, the doctrine is applied to avoid a multiplicity of suits. Iu the second class, the person discharging the superior lien is treated as its purchaser or assignee, unless the facts show it was intended as an absolute payment. In the last class, the insurer is subrogated to the remedies of the assured, upon the ground that upon payment he is entitled to the property insured as being abandoned by the assured.</p> <p>. 4. Same—of purchaser at administrator''s sale of land to claims paid by the sale. A purchaser of land at an administrator’s sale is not entitled in equity to be subrogated to the claims of creditors which have been paid by the purchase money, where the title fails for a want of jurisdiction in t