Givins v. Carroll

Citations

• 40 S.C. 413
• 18 S.E. 1030
• 1894 S.C. LEXIS 156

Syllabus

<p>1. Yoiu Sale — Subrogation.— Where a salo of laud under the power in a mortgage with general warranty fails to convey the legal title, for the reasons, (1) that the mortgagor was then dead, and (2) that the mortgagee made the deed in his own name, the purchaser will, nevertheless, be held in equity to have acquired by subrogation all of the mortgagee’s interest and right in the mortgage as against the mortgaged premises.</p> <p>2. Ibid. — Ibid.—And a second purchaser at a sale of this land, made under order of court for partition of the property of the first purchaser, is in turn subrogated to all the rights which the first purchaser had against this land.</p> <p>3. Ibid. — Ibid.—.Mortgage Debt — Cases Criticised. — But the purchaser at the mortgagee’s sale only acquired a claim against the land to the extent of the bid made and money paid by him, and not the larger sum then due on the mortgage, and the purchaser at the partition sale acquired only the rights and equities of such first purchaser, although he paid a greater sunn This case distinguished from Lowrance -o. Robertson, 10 S. G., 31, and Bredenburg v. Landrum, 32 S. 0., 215.</p> <p>4. Mortgagee in Possession — Rents—Interest.—And the attempted purchasers having been in possession of this land for a number of years, receiving rents of a fixed value, all of which were due to the heirs of the mortgagor at the end of the several years, and having expended moneys for taxes and improvements, and being entitled to interest on the mortgage debt as fixed by the sum paid by the first purchaser to.the mortgagee, the</p> <p>' balance due on the mortgage should be ascertained by taking the sum so paid by the first purchaser, calculating interest thereon from the date of purchase, but crediting the rents of every year at the date when payable, the first day of every January, and adding to the balance so found 'to be still due the sums paid for taxes and improvements.</p> <p>5. Findings or Fact by master and Circuit J