Frederick v. Ewrig

Citations

• 82 Ill. 363

Syllabus

<p>1. Cloud upon title—paper, when its office is performed, if a cloud, will he decreed to he surrendered. A paper which has performed its office, the continued existence of which may operate as a cloud upon the title of another party, will, by courts of equity, be decreed to be delivered up and canceled, or, if necessary, a conveyance of the property will be compelled.</p> <p>3. Redemption—or an assignment. Where property has been sold under a mortgage and the equity of redemption conveyed, and the grantee of the equity of redemption applies to the holder of the certificate of the mortgage sale for leave to redeem the property, after the expiration of twelve months from the day of sale, and the holder of the certificate, as a matter of favor, and for the purpose of permitting a redemption, and for no other purpose, accepts the amount due on the certificate and endorses and delivers the certificate to the owner of the equity of redemption, this is a redemption, and, after that, the certificate is null and void, and can not be used as the basis of a title.</p>