Randolph v. Stark

Citations

• 51 La. Ann. 1121

Syllabus

<p>Syllabus.</p> <p>1. The joint nature ol the principal obligation does not necessarily negative the indivisibility of the mortgage by which the obligation is secured. An indi visible mortgage frequently secures a divisible debt.</p> <p>2. Where two persons joining in a joint personal obligation secure the whole indebtedness by a mortgage on certain property in its entirety .which belongs to them in indivisión, each owner stands as surety for the other for the portion of the debt beyond that owed personally by herself.</p> <p>3. If two debtors bound only jointly have mortgaged their common property in its entirety for the whole debt, each of the debtors is bound “with the other,” the mortgage being indivisible. If one pays the whole debt, subrogation takes place in his favor.</p> <p>4. The subrogation acquired under Art. 2161 of the Civil Code by a purchaser who employs the price of his purchase in paying the creditors to whom the property is mortgaged is a special one. It is an equitable defensive subrogation intended to consolidate the property in the hands of the purchaser and protect him from eviction therefrom at the instance of other creditors. When the amount paid by the purchaser to the mortgage creditors does not exceed the purchase price, the subrogation acquired by him is limited to the-property purchased and does not confer rights upon him to be actively exercised against third parties.</p>