Hunter v. Wooldert

Citations

• 55 Tex. 433
• 1881 Tex. LEXIS 139

Syllabus

<p>1. Powers—Contract.— In a mortgage with a power to sell, the power to make title, though not expressed, will be inferred as a necessary incident.</p> <p>2. Purchaser — Homestead — Equity.— When a homestead was sold by a creditor under a mortgage with a power to sell, the same having been executed in 1875, the creditor was not authorized to apply the overplus resulting from the sale, after liquidating his secured debt, to the extinguishment of a further amount due him and unsecured. The mortgagee having sold the homestead and become the purchaser thereof, was entitled to no benefit from his purchase until he had paid to the mortgagors whatever remained from proceeds of sale after satisfying his secured debt.</p>