Ellis v. Leek

Citations

• 127 Ill. 60
• 20 N.E. 218

Syllabus

<p>Mobtgage—strict foreclosure—what interest passes by the decree. A decree of strict foreclosure of a mortgage, after finding the sum due on the mortgage, and that the value of the mortgaged premises was much less than that sum, ordered and decreed that the defendants pay the sum so found due, with six per cent interest thereon, within ninety days, and that in default of such payment within the time fixed, the defendants be forever barred and foreclosed of all right and equity of redemption in and to the mortgaged premises, and every part thereof, and that on such default, all the right, title and interest, both legal and equitable, of the defendants in and to said premises, and every part thereof, should become vested, absolutely and forever, unconditionally, in the complainant: Held, that the decree was a final one, and vested the title and estate of the mortgagor in the complainant, without any further order or decree of the court after the time allowed for payment has elapsed.</p>