Union Dime Savings Institution v. Duryea

Headnote

Surplus moneys—judgment “ secured on appeal ” — effect of restoration of lien of.

On the 17th of March, 1878, Bispham recovered a judgment against Keech, which was, on the twenty-eighth of the following July, marked “ secured on appeal.” On the 39th of December, 1878, a new trial was granted, on the ground of newly discovered evidence, the judgment being ordered to stand as security. Between the twenty-eighth of July and the twenty-ninth of December, Keech, in order to secure a prior indebtedness, executed a mortgage on the premises in question to Kelts & Co., who, in consideration thereof, extended the time of payment of their account against Keech. On an application for the distribution of the surplus moneys arising upon the sale of the premises under a prior mortgage, held, that the mortgage of Kelts & Co. should be paid in preference to the judgment.

Appeal from an order of the Special Term,' sustaining the exceptions of the respondent, Bispham, to the report of a referee, appointed in an application for the distribution of the surplus moneys arising on a sale upon the foreclosure of a mortgage.