Georgia Pacific R. R. v. Walker

Citations

• 61 Miss. 481

Syllabus

<p>1. Parties. Sill to foreclose mortgage. Holder of equity of redemption.</p> <p>The rights of the holder of an equity of redemption in mortgaged premises acquired before the filing of a bill to foreclose the mortgage, and to which he is not a party, are not affected by the decree of foreclosure.</p> <p>2. Purchaser at Foreclosure Sale. Sights acquired.</p> <p>The purchaser at a sale under foreclosure proceedings acquires all the rights of the mortgagee in the land, including the legal title, and may bring ejectment for the land or proceed anew to foreclose the mortgage.</p> <p>3. Same. Holder of equity of redemption.</p> <p>The purchaser at a foreclosure sale does not become the absolute owner of the property so as to cut off the equity redemption in part of the land held by one not a party to the foreclosure proceedings, but such holder may require that the lands retained by the mortgagor be first sold for the satisfaction of the mortgage debt, and his part subjected to payment of any deficiency which may arise.</p>