Kirby v. Howie

Citations

• 9 S.D. 471
• 70 N.W. 640
• 1897 S.D. LEXIS 92

Syllabus

<p>1. Unclei' Comp. Laws, 'i 5418, prohibiting a separate sale, under a power contained in a mortgage, of any more tracts “than shall be necessary to satisfy the amount due on such mortgage at the date of the notice of sale, with interest and the costs and expenses allowed by law,” where the mortgaged land consists of distinct tracts, and a sufficient number have boon sold to satisfy the debt and costs, the power to sell thereunder ceases, and the mortgagee can acquire no title to a tract thereafter exposed for sale under such power.</p> <p>2. In such case the assignee of the certificate of purchase issued to the mortgagee stands in no better position than the assignor, as against an absent mortgagor without actual notice of the foreclosure or assignment of the certificate.</p> <p>3. In an action to recover land bought at a mortgage sale, the mortgagee can show that payments made reduced the sum collectible so that money realized from a sale of portions of the mortgaged property was in excess of the amount due. »,</p>