Manhattan Trust Co. v. Richards Trust Co.

Citations

• 13 S.D. 377
• 83 N.W. 425
• 1900 S.D. LEXIS 155

Syllabus

<p>1. A mortgagee, after assigning' the mortgage with a g'uaranty of payment, may acquire a tax title to the premises covered thereby, prior to foreclosure.</p> <p>2. Though, as an abstract proposition of law, a mortgagee may acquire a tax title to the premises after assigning the mortgage with a guaranty of payment, the assignee of tbo mortgage will be allowed a reasonable time to redeem, if it would be inequitable to decree otherwise.</p>