Richardson v. Hockenhull

Citations

• 85 Ill. 124

Syllabus

<p>1. Mbbg-br—extinguishment of mortgage—rule in equity. A court of equity will keep an incumbrance alive or consider it extinguished, as will best serve the purposes of justice and the actual and just intention of the parties. The intention is the controlling consideration, and to arrive at this the court will look into all the circumstances of the case.</p> <p>2. If a mortgage is the eldest lien, and is for an amount equal to or exceeding the value of the mortgaged premises, and the mortgagee, to avoid the expense of foreclosure, takes a conveyance from the mortgagor, a court of equity will not permit the mortgaged premises to be swept away from him by a junior judgment creditor, without payment of the mortgage, under the pretense that its lien h&s been lost by merger, but will enjoin the sale at law, or restrict the judgment creditor’s lien to the equity of redemption.</p>