|
MORTGAGES. 2197
have been obtained against siich purchaser, whether the mortgage is given
to the vendor of the property so purchased or to a third party who advances
the purchase money in whole or in part; provided, such mortgage recite
that the sum so secured is in whole or in part the purchase money of the
property purchased; provided, however, that nothing in this section shall
be held or construed to affect rights existing on April 7, 1900.
Where a lessor simultaneously with execution of his lease takes a mortgage on
leasehold interest, such mortgage has priority oyer previous judgments against
lessee—this section indicates nothing to contrary. Ahern v. White, 39 Md. 417.
Prior to act of 1900, ch. 393, this section was held to apply only in case vendor was
mortgagee. Heuisler v. Nickum, 38 Md. 275; Glenn v. Clark, 53 Md. 608.
See sec. 31.
An. Code, sec. 5. 1904, sec. 5. 1888, sec. 5. 1847, ch. 255. 1898, ch. 275.
5. The mortgagor in any deed of mortgage, in addition to the usual
covenants, may covenant for the payment of all taxes, assessments, public
dues or charges levied or to be levied by law on the mortgage debt created
or secured by such mortgage. This section not to apply to mortgages
executed after March 30, 1896.
Cited but not construed in Appeal Tax Court v. Rice, 50 Md. 319.
See art. 81, sec. 198, et seq.
An. Code, sec. 6. 1904, see. 6. 1888, sec. 6. 1785, ch. 72. 1825, ch. 203, sec. 5.
1833, ch. 181, sec. 2. 1836, ch. 249, sec. 1. 1878, ch. 483.
6. In all mortgages there may be inserted a clause authorizing the
mortgagee or any other person to be named therein to sell the mortgaged
premises, whether lands or goods and chattels, upon such terms and on
such contingencies as may be expressed therein, and where the interests
in any mortgage are held under one or more assignments, or otherwise, the
power of sale therein contained shall be held divisible, and he or they
holding any such interest who shall first institute proceedings to execute
such power shall thereby acquire the exclusive right to sell the mortgaged
premises; and any sale made and set aside upon the ground that said power
is indivisible may, by the court that set aside such sale; be reviewed on the
petition of the person who made the same, or any other person interested
therein, and said court may annul its former decree or order, and thereupon
the same proceedings shall be had and the said court shall have the same
full power as if such sale had not been set aside, and the said court may
confirm such sale or set it aside for any other sufficient reason than that
the. aforesaid power is indivisible; provided, there has been no change of
title or interest in the mortgaged premises since such sale.
Jurisdiction and procedure under this section.
This section and the following ones do not provide for exercise of a special juris-
diction, but simply a summary mode for exercise of general jurisdiction of a court
of equity. Cockey v. Cole, 28 Md. 282; Warehime v. Carroll County Bldg. Assn.,
44 Md. 517. Cf. Warfield v. Rosa, 38 Md. 90.
In sales under this section, the trust commences with filing of bond under sec. 7,
and jurisdiction of court becomes complete on report of sale under sec. 9. Warehime
v. Carroll County Bldg. Assn., 44 Md. 516. And see Wilson v. Watts, 9 Md. 459;
Warfield v. Dorsey, 39 Md. 308.
Sales under this section when brought within control of a court of equity are
governed by same rules 'as other sales in equity. Gaither v. Tolson, 84 Md. 641;
Warfield v. Dorsey, 39 Md. 302. And see Albert v. Hamilton, 76 Md. 308.
|
 |