Pratt v. Waterhouse

Citations

• 158 Pa. 45
• 27 A. 855
• 1893 Pa. LEXIS 1538

Syllabus

<p>Execution — Equity—Mortgage—Release of timber.</p> <p>The owner of a second mortgage who has released the timber on the land from the lien of his mortgage, and then taken an assignment of a judgment on the first mortgage, will not be permitted to issue an execution on the judgment and sell both the land and timber. In such a case the court will confine the execution to the land alone in the first place, and will only order a sale of the timber if the proceeds of the sale of the land are insufficient to satisfy the first mortgage.</p> <p>A vendee of the timber is not limited to a proceeding under the act of April 22,1856, § 9, P. L. 534; nor is the plaintiff in the execution entitled to have a tender of his whole debt as an alternative to the court’s control of Ms execution.</p>