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50 Vt. 147

Richards v. Stanley

Supreme Court of Vermont

Decided August 15, 1876

Supreme Court of Vermont · decided 1876-08-15

[In Chancery.] Appeal from the Court of Chancery. The bill, yvhich was originally brought by Richards alone, alleged, that on March 4, 1874, the orator Richards was the owner of certain real estate in Concord, consisting of woodland, a sawmill, a dwelliDg-house, &c., of the value of about $4,000, which was subject to a mortgage of about $900 to one Turner ; that on that day an execution in favor of one McGonty against him was, by direction of the defendant Stanley, to whom…

Decided 1876-08-15

¶1The opinion of the court was delivered by

Barrett, J.

¶2In the position sustained by the orator Richards to the property covered by the Turner mortgage, and levied on by McGonty subject to that mortgage, he became, after that levy, tenant in common with McGonty of the equity of redemption. A payment of that mortgage by either of such tenants would operate a redemption for the benefit of both, leaving them still tenants in common, with the equitable right in the paying tenant to be reimbursed for so much of the redemption money as he paid beyond his proportionate share, and holding a lien by subrogation upon the common property to secure such reimbursement. Upon the conceded facts in the case, this view alone would give the orator the equitable right he claims in this bill. Stanley and his *152grantees stand on the rights of McGonty resulting from his levy, as affected by the redemption of the Turner mortgage; As against the orator, they are no better off than McGonty would be if what has been done had been done by him without the interposition of Stanley.

¶3This would sustain the decree of the Court of Chancery without going further. But if the case be considered in the light of the evidence, we should come to the same result. For Stanley takes the position and character of sponsor for McGonty and Adams and Hazen, by reason of his respective transactions with the orator and with them. According him such position and character, we concur in finding from the evidence, that ho gave the orator to understand, and that the orator did understand, that the orator’s rights in the property were to remain to him, and to be available to him, to the same intents as if he had, in due proportion, redeemed from the Turner mortgage the property levied on ; and that the orator permitted the matter to go on without redeeming for that reason. We find also that Adams and Hazen are, under the law, affected with sufficient notice of the orator’s interest in the property to subject them to the orator’s rights as against Stanley.

¶4On this ground also the decree is affirmed.

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