Clark v. Wilson

Citations

• 56 Miss. 753

Syllabus

<p>1. Subrogation. Purchaser at invalid sale under mortgage. Equitable assignee.</p> <p>The purchaser of land at an invalid sale under a mortagage or deed of trust, whose purchase-money has been applied to the payment of the debt secured, is entitled to be subrogated to the rights of the beneficiary in such instrument, so as to fasten a lien on the land for the recovery of bis money thus applied. The purchaser in such ease is regarded and treated as the equitable assignee of the security.</p> <p>2. Chancery. Practice. As to filing cross-bill or original bill.</p> <p>The statute which permits a defendant in a suit in chancery to mate his answer a cross-bill does not compel him to do so, instead of resorting to an original bill.</p>