Matteson v. Thomas

Citations

• 41 Ill. 110

Syllabus

<p>1. Mobtgagee—subsequent purchaser—subrogation. Where a mortgagee obtains a judgment of foreclosure by seire facias, and one of several subsequent purchasers from the mortgagor pays the judgment, equity will thereupon work a subrogation of such purchaser to the rights of the mortgagee, so far as may be necessary to enable the former to compel contribution from persons liable thereto, and this right of subrogation will accrue immediately upon payment of the judgment, independently of any assignment thereof.</p> <p>2. Same — of the right of the subsequent purchaser to demand an assignment. The subsequent purchaser, in proposing to pay the judgment of foreclosure, has no right to demand an assignment of the judgment by the mortgagee to him; and if he makes a tender of the money upon condition that an assignment shall be made, his tender will not avail him in taking away the right of the mortgagee to proceed to a sale under his judgment.</p> <p>3. Pbiob mobtgagee and subsequent purchasers — rights of the parties where the premises are held by different purchasers. The rule that, where there are several subsequent purchasers of premises which have been previously mortgaged, the different parcels shall be made liable to the prior lien in the inverse order of their alienation, is never applied to the inj ury of an innocent mortgagee.</p> <p>4. Same — and herein, of the application of the recording act as to a prior incumbrancer. Before a prior mortgagee can be required to shape his action in the collection of his debt, in reference to the subsequent order of alienation, he must have actual notice of what that order is, and not merely the constructive notice derived from the registry of the deeds made by the mortgagor subsequent to the mortgage. The prior mortgagee is not within the purview of the registry laws, and such registry is not even constructive notice to him, and cannot affect his prior lien.</p> <p>5. Same — at what time the notice should be given to the prior