Reilly v. Phillips

Citations

• 4 S.D. 604
• 57 N.W. 780
• 1894 S.D. LEXIS 19

Syllabus

<p>1. In this state a power of sale in a real estate mortgage is a power coupled with an interest, and is not terminated by the death of the mortgagor.</p> <p>2. One effect of a regular sale under such power, all of the prerequisite conditions named in the mortgage and the statute existing, is to foreclose the equity of redemption of the mortgagor and his successors in interest in the premises so sold, subject to their right to redeem within a definite time after sale, as affirmatively provided in the statute. See Comp. Laws, § 5421.</p> <p>3. The heirs of the mortgagor are successors in interest, and the legislature having made no exception in favor of minor heirs, giving them other or further rights, the courts can make none.</p> <p>(Syllabus by the court.</p>