A Treatise On the Law of Mortgages of Real Property in the State of New York : With Occasional References to the Decisions of the Federal Courts, And of the Courts of the Various States, And An Appendix of Forms
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In our eReader you can find the full English version of the book. Read A Treatise On the Law of Mortgages of Real Property in the State of New York : With Occasional References to the Decisions of the Federal Courts, And of the Courts of the Various States, And An Appendix of Forms Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book A Treatise On the Law of Mortgages of Real Property in the State of New York : With Occasional References to the Decisions of the Federal Courts, And of the Courts of the Various States, And An Appendix of Forms
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111. 513. See also Olendorf v. Union Bank, 31 22 Burt V. Saxton, 1 Hun, 551; 4 Md. 126.
T. & C. 109. 27 Nicholson v. Cinque, 51 App.
23Grinnan v. Piatt, 31 Barb. 328; Div. 604; 64 N. Y. Supp. 191, hold- Jester V. Sterling, 25 Hun, 344. ing also that the amount so ad- 24 Krebs v. Carpenter, 124 App. vanoed should be credited in payment Div. 755; 109 N. Y. Supp. 482. of the mortgage.
25 Jester v. Sterling, 25 Hun, 344. 28 Lee v. West Jersey Land Co., 29 N. J. Eq. 377.
§ 220.] TIME FOK PAYMENT OF ...MOETQAaE DEBT. 177 ing must be made by the parties themselves or by some one author- ized to act.'*^ The promise must be mutual.*" EXTENSION BY KENEWAi OF NOTES.
§ 220. Mortgage secures the renewal notes. — ^Where a mortgage is given to secure the payment of a particular debt mentioned therein, the mortgagee cannot, as against subsequent purchasers or incumbrancers, hold it for an entirely distinct and different debt, upon parol proof that it was intended to cover that debt also; and vs^hen the original debt is paid, the mortgage -will cease to be a lien.*^ But wheve the mortgage is given to secure a particular debt, with a condition to be void on payment, the mortgagee does not lose his security by the mere extension of the time of pay- ment, although the extension is in the form of a renewal of the note which is held as a collateral security for the payment of the same debt, where it is not the intention of either party to discharge the mortgage security.*^ If the debt secured by the mortgage is put in judgment, the lien is not thereby lost, but the mortgage still subsists as security for the judgment.^* When a note secured by mortgage is indorsed and transferred, the acceptance by the indorsee of a new note, while it discharges the mortgagee as indorser of the old note, in the absence of an agreement to the contrary, does not extinguish the debt or impair the mortgage security.^* 29Piza V.
What to read after A Treatise On the Law of Mortgages of Real Property in the State of New York : With Occasional References to the Decisions of the Federal Courts, And of the Courts of the Various States, And An Appendix of Forms?
You can find similar books in the "Read Also" column, or choose other free books by Thomas, Abner C. (Abner Charles) to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
111. 513. See also Olendorf v. Union Bank, 31 22 Burt V. Saxton, 1 Hun, 551; 4 Md. 126.
T. & C. 109. 27 Nicholson v. Cinque, 51 App.
23Grinnan v. Piatt, 31 Barb. 328; Div. 604; 64 N. Y. Supp. 191, hold- Jester V. Sterling, 25 Hun, 344. ing also that the amount so ad- 24 Krebs v. Carpenter, 124 App. vanoed should be credited in payment Div. 755; 109 N. Y. Supp. 482. of the mortgage.
25 Jester v. Sterling, 25 Hun, 344. 28 Lee v. West Jersey Land Co., 29 N. J. Eq. 377.
§ 220.] TIME FOK PAYMENT OF ...MOETQAaE DEBT. 177 ing must be made by the parties themselves or by some one author- ized to act.'*^ The promise must be mutual.*" EXTENSION BY KENEWAi OF NOTES.
§ 220. Mortgage secures the renewal notes. — ^Where a mortgage is given to secure the payment of a particular debt mentioned therein, the mortgagee cannot, as against subsequent purchasers or incumbrancers, hold it for an entirely distinct and different debt, upon parol proof that it was intended to cover that debt also; and vs^hen the original debt is paid, the mortgage -will cease to be a lien.*^ But wheve the mortgage is given to secure a particular debt, with a condition to be void on payment, the mortgagee does not lose his security by the mere extension of the time of pay- ment, although the extension is in the form of a renewal of the note which is held as a collateral security for the payment of the same debt, where it is not the intention of either party to discharge the mortgage security.*^ If the debt secured by the mortgage is put in judgment, the lien is not thereby lost, but the mortgage still subsists as security for the judgment.^* When a note secured by mortgage is indorsed and transferred, the acceptance by the indorsee of a new note, while it discharges the mortgagee as indorser of the old note, in the absence of an agreement to the contrary, does not extinguish the debt or impair the mortgage security.^* 29Piza V.
What to read after A Treatise On the Law of Mortgages of Real Property in the State of New York : With Occasional References to the Decisions of the Federal Courts, And of the Courts of the Various States, And An Appendix of Forms?
You can find similar books in the "Read Also" column, or choose other free books by Thomas, Abner C. (Abner Charles) to read onlineMoreLess
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