J. B. Watkins Land Mortgage Co. v. Williams

Citations

• 63 Kan. 30
• 64 P. 976
• 1901 Kan. LEXIS 85

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Note and Mortgage — Interest Coupons — Subrogation. A second mortgagee who voluntarily pays and consents to the cancelation of interest coupons secured by a first mortgage cannot, in an action subsequently brought to foreclose the same, be subrogated to the rights of the first mortgagee as to such coupons, and a decree allowing him to participate pro rata with the holder of the first-mortgage bond in the proceeds of the sale is erroneous.</p>