Lampe v. Star Lumber Co.

Citations

• 97 Kan. 376
• 155 P. 918
• 1916 Kan. LEXIS 305

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Liens — Foreclosure — Sale — Assignment of Right of Redemption— Amount Required to Redeem. Shortly after the holders of certain mechanic’s liens had begun suit to foreclose, a quitclaim deed amounting to a mortgage on the land involved in the suit was executed to a trustee for the benefit of such lien holders. The foreclosure suit went to judgment, the land was sold and the sale confirmed, one of the lien holders being the purchaser at about one-fourth the amount of the judgments. Later the fee owner conveyed by warranty deed and 'at the same time assigned his right of redemption to the plaintiff, who sought to redeem on the basis of the sum for which the land sold at foreclosure. His payment being refused, he sued for an accounting of rents and profits and to redeem. Held, that the sum the land sold for is the proper basis for redemption.</p> <p>2. Deed and Assignment — Construed Together — Right to Redeem. Such deed and assignment having been executed at the same time must be construed together, and for the purposes of this case amount merely to a transfer to the plaintiff of the fee owner’s right to redeem.</p> <p>8. Execution Sale — Mortgage Paid by Purchaser — Redemption from Sale — Amount Required. The fee owner having requested the purchaser at the foreclosure sale to take up a mortgage on the land which he had executed to another- — which was done and satisfaction entered of record — in order to redeem and oust, the purchaser must account for such mortgage, and the plaintiff, standing in his shoes, is under like obligation.</p>