Dendy v. Waite

Citations

• 36 S.C. 569
• 15 S.E. 712
• 1892 S.C. LEXIS 114

Syllabus

<p>1. Mortgage. — Power oe Sale. — A mortgagee may sell the mortgaged lands when empowered so to do by the mortgage deed, and if he faithfully observes all the conditions of the power, a sale and proper conveyance thereunder will have a like operation as under a decree in equity.</p> <p>2. Ibid. — Ibid.—Deed.—A sale, however, under such a power, though made in perfect good faith, was ineffectual to transfer the title, where the mortgagee made the deed of conveyance to the purchaser, reciting the power, but signing the deed with his own name as mortgagee.</p> <p>3. Ibid. — Ibid.—Ibid.—Nor can the courts aid or correct such a defect in the execution of this power.</p> <p>4. Invalid Sale — Junior Mortgage. — After such an attempted but invalid sale, one holding a junior mortgage on the premises is entitled to maintain an action for the foreclosure of his mortgage.</p> <p>5. Costs in Chancery. — And this action being resisted by the pretended purchaser at the sale under the power, the Circuit Court, while decree-inn; to him his mortgage debt as a prior lien, properly required the costs of the action to be first paid.</p> <p>6. An Exception not considered because too general.</p>