Home Buyers' Building & Loan Ass'n v. Peterman

Citations

• 253 Pa. 418
• 98 A. 619
• 1916 Pa. LEXIS 861

Syllabus

<p>Sheriff’s sales — Advertisement—Misdescription—Bankruptcy of defendant — Sale after defendant’s death — Federal Bankruptcy Act of 1898, Sec. 8, Clause A — Building and loan associations — Application of payments on shares — Rule to set aside sale.</p> <p>1. A rule to show cause why a judgment should not be opened, assessment of damages amended and a sheriff’s sale set aside on the ground that the price was inadequate and that a misdescription was made in the advertisement of the sale, in that no mention was made of a one-story brick garage built on the rear of the premises, so that the sale was for less than the real value of the property, was properly dismissed where there was no allegation of fraud or that any buyers were deterred from bidding, and where it appeared that the dimensions of the lot, which was described as located on a certain corner, were correctly given in the advertisement, and that the garage was visible to any one inspecting the lot.</p> <p>2. In such case a complaint that the damages had been assessed without allowing a credit for the value of a share of stock owned by defendant in plaintiff building association and held as collateral by it, is of no avail in the absence of an allegation of any contract between plaintiff and the mortgagor that amounts paid on such stock, or the withdrawal value thereof, should be applied in reduction of the mortgage debt.</p> <p>3. In such case where the execution defendant died after being adjudicated a bankrupt the trustee in bankruptcy was the sole person in interest for the purpose of petitioning to have such sale set aside under the Bankruptcy Act of 1898, Section 8, Clause A.</p>