Roberts v. Fitzallen

Citations

• 120 Cal. 482
• 52 P. 818
• 1898 Cal. LEXIS 793

Syllabus

<p>Fokeclosuoti of Mortgage—Statute of Limitations — Assumption of Mortgage.—In this state, where the grantee of a mortgagor assumes the payment of the mortgage as part of the purchase price, he becomes, as to the mortgagor, the principal debtor, and the mortgagor becomes the surety, and the liability of the grantee in such case is the indebtedness secured to be paid by the mortgage which is to be enforced against him by foreclosure, and judgment for the deficiency; and the statute of limitations which runs against his obligation is that -which attaches to the mortgage obligation, and not to the promise to pay the mortgage as a new and independent agreement.</p> <p>Id.—Liability not Secured by Mortgage—Attorney’s Fee—Deficiency Judgment against Grantee.—The grantee, by assuming the mortgage assumed only such liability as was secured by the mortgage; and a mere provision in the note for an attorney’s fee,'- which is not made a lien upon the land by the mortgage, cannot warrant the including of such attorney’s fee in the deficiency judgment against the grantee.</p>