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8 Ky. Op. 799

Harris v. Prather

Court of Appeals of Kentucky

Decided November 21, 1876

Court of Appeals of Kentucky · decided 1876-11-21

<p>Mortgage or Sale of Personal Property.</p> <p>The owner of personal property exempt from coercive seizure for debt may nevertheless sell it or mortgage it and such sale or mortgage may be enforced.</p>

Decided 1876-11-21

¶1Opinion by

Judge Lindsay:

¶2The owner of personal property exempt from' coercive seizure and sale for debt, may nevertheless sell it, or pledge it by express contract. When the pledge is evidenced by a mortgage regularly executed and delivered, the chancellor must at the suit of the mortgagees enforce the contract.

¶3The statute does not, as in the case of the homestead exemption, make the right of the mortgagee depend upon the assent of the mortgagor’s wife to be expressed by the fact that she joins in the mortgage. This question was incidentally settled in the case of Moxley v. Ragan, 10 Bush 156, when it was said, “It is well settled that a debtor may sell his personal property, exempt from execution either *800in payment of debt, or for any other valuable consideration, so as to vest in the purchaser the absolute title, or even mortgage it, which is in effect a sale, to secure the payment of a debt.”

P. B. Thompson, for appellants. Kyle & Poston, for appellees.

¶4Judgment reversed and the cause remanded with instructions to enforce the mortgage by subjecting the mortgaged property to the satisfaction of appellant’s claim.

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