Mason v. Ainsworth

Citations

• 58 Ill. 163

Syllabus

<p>1. Poweb of sale in A mobtqage—whether it may he executed hy an assignee. When a mortgage contains a power of sale, to be executed by the mortgagee, his heirs or assigns, and the debt secured thereby is of a character assignable by law, an assignee of the debt may execute the power of sale contained in the mortgage.</p> <p>2. But where the debt is not evidenced by any of the instruments assignable by law, but only by the mortgage itself, which is not assignable except in equity, then the mere assignment of the mortgage will pass to the assignee only an equitable title to the debt, and in such case the power of sale in the mortgage does not pass to the assignee, and can be executed only by the mortgagee himself.</p>