People's B. & L. Ass'n v. Mayfield

Citations

• 42 S.C. 424
• 20 S.E. 290
• 1894 S.C. LEXIS 61

Syllabus

<p>1. Two Funds — Homestead—Estoppel.—Defendant purchased seven shares of stock and a lot of land which had been pledged and mortgaged, respectively, by his vendor to a building and loan association. The judgment creditors of defendant levied on the land, and under proper proceedings the lot was appraised at $1,500, and ordered to be sold, $1,000 thereof to be paid to the debtor as his homestead. Thereafter the mortgagee instituted proceedings for sale of this stock and foreclosure of the mortgage. Held, that the judgment creditors, defendants, were entitled to a decree directing the proceeds of the sale of stock and the $1,000 exemption to be primarily applied to the mortgage, so that the unexempted remainder, if any, might be subjected to the judgment liens, and that this right of theirs was not affected by the determination under the homestead proceedings.</p> <p>2. Jurisdiction — Service.—This, court will not declare that jurisdiction was not acquired over the person of a defendant who accepted service of a summons, no facts appearing to negative the force of such acceptance.</p>