Pratt v. Pratt

Citations

• 96 Ill. 184
• 1880 Ill. LEXIS 19

Syllabus

<p>1. Subrogation—to lien of Slate for taxes. A holder of a lien upon land has a right to purchase a certificate of the sale of the land for taxes where the time of redemption has expired, paying a reasonable sum therefor, or to redeem from the tax sale if the time of redemption has not expired, and to have the money so paid refunded. The taxes being a paramount lien to all others, a lien holder who discharges the same is entitled to be subrogated to the rights of the State, and the amount paid to extinguish such paramount lien or incumbrance will constitute a first lien on the land.</p> <p>2. Mortgagee pendente lite—bound by decree. A party taking a mortgage on land pending a bill to foreclose a prior mortgage or lien, will be bound by the decree and sale made in the pending suit the same as if made a party to the bill to foreclose, and will be bound to redeem from such sale within twelve months. If he fails to do so, his equity of redemption will be barred.</p> <p>3. Junior mortgage—sale under prior lien. Where a subsequent mortgagee pendente lite suffers the mortgaged premises to be sold on the foreclosure of a prior mortgage, and allows the time of redemption to pass, his rights under his mortgage will be extinguished and lost, and can only be revived by contract with the parties holding the title.</p> <p>4. Same—when lien revived after it is barred. Where a mortgage contains the words “ grant, bargain and sell,” which create a statutory covenant on the part of the mortgagor, and the mortgagor, after a sale under a prior lien has passed redemption except as to judgment creditors, procures a redemption through such a creditor under a written contract giving him the right to redeem upon payment of the cost of redemption, with interest, within a period of years, such agreement will revive the mortgage as to his equitable title, and the mortgage may be foreclosed, subject to the rights of the parties making the redemption.</p> <p>5. Conveyance—subsequently acquired