Preston v. Hodgen

Citations

• 50 Ill. 56

Syllabus

<p>1. Mortcaqes—of the rights of the severed holders of a series of notes, maturing at different times, and secured by the sam.e mortgage. Where a mortgage is given to secure several notes, maturing at different times, which are assigned to different persons—upon a foreclosure of the mortgage in favor of the holder of the note first maturing, the holder of the note last maturing, may redeem from the sale under such foreclosure, and by such redemption, will become invested with the right to have the premises again sold, not only for the satisfaction of his own note which he held by assignment, but also to reimburse him for the amount paid by him to redeem from the first foreclosure and interest thereon.</p> <p>2. The right of the successive holders of a series of notes, maturing at different times, and secured by the same mortgage, to redeem from a foreclosure and sale, in favor of the holder of the note first maturing, is the same as that of a separate junior incumbrancer, to redeem from a foreclosure of a prior mortgage.</p> <p>3. Master in chancery—of the report of—when not admissible in evidence. In the absence of any order of reference to the master, of record, to hear and report the evidence, his report would be unauthorized, and inadmissible in evidence to support the decree.</p> <p>4. But, if it appeared from the language of the decree, that the court acted upon the report of the master, it might be inferred that an order of reference had been made.</p> <p>5. Minor heirs—decree—material facts. Where minor heirs are made parties defendant to a bill to foreclose, the decree must show that the material allegations of the bill were proved, or the decree will be reversed.</p>