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19 Ind. 151

Mattix v. Weand

Indiana Supreme Court

Decided November 15, 1862

Indiana Supreme Court · decided 1862-11-15

<p>The taking of a mortgage to secure the payment of purchase money, is an abandonment of the vendor’s equitable lien for the same.</p> <p>The equitable lien for purchase money, once fairly and voluntarily abandoned, is lost forever.</p> <p>The surrender of a mortgage, voluntarily, on a fair contract, for other security, is an abandonment of the same, and does not revive the equitable lien.</p>

Decided 1862-11-15

Perkins, J.

¶1Samuel Mattix owned a piece of real estate, *152and sold it to Charles Wolf. He took a mortgage for unpaid purchase money. That act was an abandonment of the vendor’s equitable lien. Adams’ Eq., Am. ed., p. 341, note. Williams on Real Prop., Am. ed., p. 362, note. Harris v. Harlan, 14 Ind., p. 439.

J. N. Sims, for the appellant.P. P. Davidson, J. H. McDonald, and A. L. Boache, for the appellees.

¶2An equitable lien for purchase money, once abandoned, fairly and voluntarily, is abandoned forever.

¶3Subsequently, Mattix gave up and satisfied his mortgage, taking the individual note of one Weand, in lieu of it, as his security for his money. He thereby relinquished his mortgage lien, the surrender of the mortgage having been voluntary, upon a fair contract.

¶4This suit was instituted by Mattix, on the hypothesis that he could fall back upon a vendor’s lien, and for the enforcement of such a lien, in this case.

¶5The Court below rightly held that it would not lie.

Per Curiam.

¶6The judgment is affirmed, with costs.

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