Columbus Buggy Co. v. Graves

Citations

• 108 Ill. 459
• 1884 Ill. LEXIS 1502

Syllabus

<p>1. Becording law—creditor—how far protected against unrecorded deed. Under the Begistry act, which provides that all deeds and title papers shall be in force and take effect from and after the time of filing the same for record, and not before, as to all creditors and subsequent bona fide purchasers without notice, etc., a creditor is one who effects a lien upon land; and a judgment creditor and a purchaser are equally protected.</p> <p>2. It is the settled law of this State that a judgment lien attaches to whatever interest in real estate the records disclose in the judgment debtor, in the absence of notice from other sources; and notice at the time of the levy of execution and sale, of an unrecorded deed or mortgage, will avail nothing as against the force of the lien.</p> <p>3. Same—purchase by several under executions held by each. Where several judgments are recovered against a common debtor at the same time, upon which executions are issued, and levied upon the same land, and at the sale the land is struck off and sold to all the judgment creditors, on separate' bids by each, and the sheriff’s deed conveys to each purchaser his proportionate undivided part of the premises, each purchaser will be held to have purchased under his own execution, and to hold under his own judgment; and if any one or more of such judgment creditors had notice at or before the recovery of his judgment of the existence of an unrecorded mortgage, his title will be subject to the lien of the mortgage, while a creditor not having such notice will acquire title to the interest purchased by him free from the mortgage or unaffected by any title acquired under such mortgage.</p> <p>4. Foreign corporations—may acquire real estate in satisfaction of debts due them. Sections 26 and 5, of the general Incorporation act, (chap. 32, Rev. Stat.) by the most direct implication authorizes foreign corporations to acquire real estate in satisfaction of any liability or indebtedness to them; and the