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Issues:
- Interpretation of a mortgage decree and sale held under it - Rights of parties in possession of mortgaged property - Effect of limitation on enforcing mortgage rights - Liability of parties not bound by mortgage decree Analysis: Interpretation of a mortgage decree and sale held under it: The plaintiff appealed a decision regarding possession and title of land mortgaged to her predecessors. The defendants claimed rights to the land not included in the mortgage. The lower court decreed in favor of the plaintiff, allowing defendants an opportunity to redeem the mortgage. However, a second appeal was made, and it was held that defendants could retain possession by paying a proportionate share of the decretal amount with interest. This decision was based on the nature of a simple mortgage as a personal obligation to repay a loan and a conveyance of interest in the property mortgaged. Rights of parties in possession of mortgaged property: The judgment highlighted that a mortgagee only acquires a right in rem realizable by sale as security, while the ownership of the property remains with the mortgagor. The equity of redemption, including the right to possess the property, remains with the mortgagor until the sale becomes absolute. It was emphasized that every person with an interest in the security or right of redemption must be joined in a mortgage suit for proper constitution. Effect of limitation on enforcing mortgage rights: The plaintiff's right to enforce the mortgage was barred by limitation before the present suit, preventing her from compelling the defendants to redeem the mortgage. The judgment clarified that once the right to enforce the mortgage lien is extinguished, the plaintiff cannot convert the defendants' right to redeem into a liability they must discharge. The plaintiff's inability to enforce the mortgage against the defendants due to limitation affected her claim for possession of the disputed land. Liability of parties not bound by mortgage decree: The judgment concluded that as defendants 1 to 4 accepted the decree allowing them to redeem the mortgage by paying a proportionate share, the decision of the lower court could not be interfered with in the appeal. It was noted that defendants who were not parties to the mortgage suit retained their right in the property, such as the right to remain in possession as permanent tenants, despite the mortgage sale. In summary, the judgment clarified the rights and limitations concerning mortgage decrees, possession of mortgaged property, the impact of limitation on enforcing mortgage rights, and the liability of parties not bound by mortgage decrees. The decision upheld the lower court's decree based on the principles of mortgage law and the actions of the parties involved in the case.
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