Williams & Co. v. Paysinger

Citations

• 15 S.C. 171
• 1881 S.C. LEXIS 66

Syllabus

<p>1. Land was mortgaged by A to B for the purchase money, B assigned his notes and mortgage to C, and C assigned to D. This mortgage was duly recorded, but not the assignments. Afterwards, A not knowing of the as-</p> <p>1 signment to D gave new notes of same amounts, and payable at same time and new mortgage to C, in satisfaction of the original notes and mortgage, -which were not surrendered, 0 saying they were at his home. Failing to pay the first note to C at maturity, A gave up possession of the land to C, and C afterwards mortgaged it to other parties, The land having sold for enough to pay the first mortgage only — Held, that D was entitled to the entire proceeds of sale.</p> <p>2. An assignment of a mortgage is not required by law to be recorded.</p>