56 Ga. 94 (Ga. 1876), Harris v. Glenn
|Citation:||56 Ga. 94|
|Opinion Judge:||BLECKLEY, Judge.|
|Party Name:||WILLIAM HARRIS, plaintiff in error, v. JOHN J. W. GLENN et al., defendants in error.|
|Attorney:||EMMETT & WOMACK, for plaintiff in error. MCCAY & TRIPPE; J. C. BARTON, for defendants.|
|Court:||Supreme Court of Georgia|
1. The act of February 27th, 1874, declaring that property exempted from levy and sale by section 2040 of the Code, shall not be exempt as against the purchase money, applies to a mortgage executed for the purchase money of land prior to the passage of the act.
2. Debtors have no vested right not to pay their debts. Exemption of their property from legal process for the satisfaction of creditors is but a privilege; mere grace and favor, dependent on the will of the state. Statutory exemptions are subject to be reduced or revoked by the legislature, and constitutional exemptions, by the people, through a change of the organic law.
3. The judgment foreclosing a mortgage is a final adjudication that the debt is due and that the property is subject to pay it. It is a specific judgment against the specific property, and if the mortgagor had the defense of exemption, and meant to urge it, should he not have presented it in answer to the rule nisi? Quæ re.
4. After judgment of foreclosure has been rendered, and after the law granting exemption has been repealed, it is too late to have a portion of the land laid off, and, for the first time, assert exemption against the mortgage debt.
5. It is too late, also, to say that the debt was not due according to the real contract between the parties, or that payments had been made before foreclosure which were not credited.
6. Land subject to levy and sale for purchase money, and under mortgage for the same, is not disincumbered so long as any of the purchase money remains unpaid. No part of the tract is free until the whole debt is discharged. See Sale vs. Wingfield, decided at the present term.
Homestead. Vendor and purchaser. Laws. Debtor and creditor. Constitutional law. Mortgage. Before Judge HALL. Newton county. At Chambers. January 8th, 1876.
Reported in the opinion.
In 1871 the vendor of certain lands conveyed the same by deed to the vendee. At the same time the latter gave to the former a mortgage upon it to secure the purchase money. Part of the money was paid in 1872, part in 1873, and part in March, 1874...
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