Majority
Headnote
1. Mortgages—Foreclosure—Sale—Rights of Purchaser.James Costello, as the assignee of the purchaser of the premises described in the complaint in this action, makes application to the court to be relieved from the purchase,
It is urged on this appeal that the purchaser has a right to a gopd, merchantable title—a proposition too obvious to require citation of authorities—and two objections are raised to the title offered. One of these is that a certain power of sale contained in the will of one Hugh Ward is invalid, and the other that certain deeds, asserted to be without seals, “did not convey a marketable title, and are not notice, under the recording acts.”
The mortgage to foreclose which this action was brought was made by one Marsland to the plaintiff in 1880, and it is admitted that the mortgagor had at that time a good, legal, record title to the premises in question. Subsequent to the execution of the mortgage the grantor had, by mesne conveyances, conveyed said premises to one Hugh Ward, who died, leaving a will, which was admitted to probate November 5, 1885, and it is with reference to this will that the first objection arises. This will provided in its first paragraph for the payment of the lawful debts, and then the testator adds:
“I give and bequeath and devise unto my beloved wife, Ellen Ward, all my estate, both real and personal, to be for her own use and the use of our children, as long as she remains my widow and unmarried after my death, giving and granting unto her full power to mortgage, lease, or sell any or all of my real estate in the same manner as I could do if living.”
In the second paragraph he declares that:
« “It is my desire, and I hereby direct, and it is my will, that my said wife have the right to bequeath and devise my said estate to my children, and to them only, as she in her sound discretion may see fit and as the said children may seem deserving.”
The evident purpose of the testator was to vest the estate, as a whole, in his family, subject to such distribution as his wife should determine to be proper, and to this end the widow was invested with the power to sell the real estate, not for her own benefit, but for the benefit of the estate. She was given a power to convert the real estate into personal property, and she was to “have the right to bequeath and devise my said estate to my children,” etc. She was not called upon to devise his real estate to his children, but “my said estate,” in whatever form it should happen to be, after the widow had exercised the power of sale which had been given her. In selling the real estate, she did not diminish the estate; she simply changed its form, in accord with the letter and spirit of the will; and we discover no reason why she could not entirely divest her children and herself of any interest whatever in the real estate. Assuming that the title vested in the children, it was subject to the power of sale, as to the real estate, and this power is not inconsistent with the devise of a vested estate in the same property. Cussack v. Tweedy, 126 N. Y. 81 , 87, 26 N. E. 1033 , and authorities there cited; Rose v. Hatch, 125 N. Y. 427 , 26 N. E. 467 . It is clear, therefore, that, in so far as the objections relate to the transfer by Ellen Ward personally and as executrix and trustee, she having been named as executrix in the will, it is without merit. She had a perfect legal right to act, and the sale conveyed a good, legal title.
Several other interesting questions are suggested, but, the appellant having failed to show that the plaintiff is not in a position to convey a merchantable title, there seems to be no need of determining more. The mortgage in suit has been duly foreclosed, and a sale of the property has been made; the appellant fails to show that the title is not good and merchantable; and the orderly course is to affirm the order appealed from.
The order appealed from should be affirmed, with $10 costs and disbursements. All concur.
Cases cited
- Cussack v. Tweedy 126 N. Y. 81 at 87, 26 p. 1001
- Rose v. Hatch 125 N. Y. 427 p. 1001
- Todd v. Union Dime Savings Institution 118 N. Y. 337 at 343, 23 p. 1002
- Tarbell v. West 86 N. Y. 280 p. 1002