Bissell v. Marine Co.

Citations

• 55 Ill. 165

Syllabus

<p>1. Interest upon decree of foreclosure. In a suit to foreclose a mortgage, it was stipulated by the parties defendant that a decree of strict foreclosure might be entered, the complainant to take the mortgaged premises in full satisfaction thereof, but the decree provided that the defendant should, within six months, pay the amount found due, with interest thereon at ten per cent per annum, and in default thereof, to be from thenceforth foreclosed of all equity of redemption: Held, inasmuch as the complainant was entitled to a strict foreclosure, it was not error to require a higher rate of interest than is prescribed by the statute, upon an extension of the time of payment.</p> <p>2. Decree of foreclosure—for too large a sum. Where it is stipulated, in a suit to foreclose a mortgage, that a decree of strict foreclosure may be entered, and that the mortgaged premises shall be taken in full satisfaction of the decree, the amount for which it may be rendered is immaterial, and even if it exceed the amount claimed in the bill, it will not be erroneous.</p> <p>3. Parties—on foreclosure. Although our statute allows the administrator of a mortgagor to redeem from a sale of mortgaged premises under a decree of a court of equity, it does not follow that he is a necessary party to a bill to foreclose.</p> <p>4 And especially, in a suit where the heirs of a mortgagor are made parties, and the bill, decree and consent of the defendants are all for a strict foreclosure, and there is a stipulation that the lands shall be taken in full satisfaction of the decree, it is not an error of which the defendants can complain that the administrator is not joined.</p>