Simpson v. Castle

Citations

• 52 Cal. 644

Syllabus

<p>Mortgage.—Where, upon a foreclosure of a mortgage, the mortgagee purchases the land for a sum less than the amount of the judgment, and dockets a judgment for the deficiency, the purchaser from the mortgagor of the land, pending the time for redemption, is entitled as successor in interest to redeem from the mortgagee, without payingthe amount of the deficiency.</p> <p>Redemption.—The former rule, that when real estate which is subject to a judgment-lien is sold on an execution on the judgment, to the judgment-creditor, for a sum less than the whole amount of the judgment, the judgment-creditor continues to be “a creditor having a lien” for the unsatisfied portion of the judgment upon the property sold under the execution, and that neither the judgment-debtor or a redemptioner with a subsequent lien could redeem without paying said judgment, has been changed by the Code of Civil Procedure.</p> <p>Idem.—During the time for redemption the legal title is in the mortgagor, and may be conveyed by him, and the grantee becomes entitled to redeem, without paying to the mortgagee the unsatisfied portion of the judgment under which the property was sold to him, and the judgment for the deficiency is not a lien on the land.</p>