Morse v. Smith

Citations

• 83 Ill. 396

Syllabus

<p>1. Mortgage—right of subsequent mortgagee to redeem from prior mortgage, and, fffect thereof. A second mortgagee has the right to redeem from a sale under a prior mortgage, and, by so doing, he acquires all the rights that the mortgagor -would have attained if he had made such redemption, subject to the right of the mortgagor or his assignee to redeem by refunding the redemption money and paying to the second mortgagee so redeeming the amount of his original mortgage debt.</p> <p>2. Same—mortgagee not bound to speculate as to adequacy of security. A mortgagee of several tracts of land, a portion of which are subject to a prior mortgage, has a right to redeem from a sale under such prior mortgage without showing that it is necessary to protect the security of his mortgage debt, and that the other tracts in his mortgage are not of sufficient value to pay his mortgage debt. He is under no obligation to take any risk as to the adequacy of his security.</p> <p>3. Practice in Supreme Court—who may assign errors. Where parties, on their own motion, are admitted as defendants to a bill in chancery, and file a cross-bill, which, upon final hearing, is dismissed, and they do not appeal, and their names are not mentioned in the order allowing an appeal to other parties, and they are not brought into this court, they can not be allowed to assign errors.</p>