Traer v. Fowler

Citations

• 144 F. 810
• 75 C.C.A. 540
• 1906 U.S. App. LEXIS 3898

Syllabus

<p>1. Courts — Federal Courts — State Rules os Property Prevail in.</p> <p>Rules of property established by the construction by the highest judicial tribunal of a state of its Constitution or statutes prevail in the federal courts where no question of right under the Constitution and laws of the nation, and no question of general or commercial law is involved.</p> <p>[Ed. Note. — For cases in point, see vol. 13, Cent. Dig. Courts, § 958.</p> <p>State laws as rules of decision in federal courts, see notes to Wilson v. Perrin, 11 C. O. A. 71; Hill v. Hite, 29 C. C. A. 553.]</p> <p>2. Mortgage — Foreclosure Sales in Illinois — Owneh of Rents and Profits During Redemption I’ertod.</p> <p>During the period of redemption from fordo,sure and execution sales of real estate in Illinois the mortgagor or judgment debtor is entitled to the possession and rents and profits of the property. The purchaser has a lien for the amount of his bid and interest during this period. If no redemption is made the title he acquires at the expiration of the period of redemption relates back to the beginning of his lien to cut off intervening incumbrances, but it does not divest the mortgagor or judgment debtor of. or vest in the purchaser the right to the possession or to the rents and profits during the period of redemption.</p> <p>[Ed. Note — -For cases in point, see vol. 35, Cent. Dig. Mortgages, §§ 1562, 1567.]</p> <p>3. Same — A Judgment Creditor Wiio Redeems Has the Same Rights as a Purchaser.</p> <p>A judgment creditor who redeems from a foreclosure or execution sale under the statutes of Illinois buys the lien of the purchaser and secures no more or less rights than the purchaser would have acquired if no redemption had been made.</p> <p>4. Same — Coal in Mine is Real Estate and Subject to Redemption.</p> <p>Coal lying under land in Its natural deposit is real estate and foreclosure and execution sales thereof are subject to redemption.</p> <p>[Ed. Note. — For cases in point, see vol.