McKee v. Stein's Guardian

• Decision Date: 06 June 1891
• Citation: 91 Ky. 240,16 S.W. 583
• Parties: MCKEE v. STEIN'S GUARDIAN et al. [1]
• Court: Kentucky Court of Appeals

16 S.W. 583

91 Ky. 240

MCKEE v. STEIN'S GUARDIAN et al. ^[1]

Court of Appeals of Kentucky.

June 6, 1891

Appeal from Louisville law and equity court.

"To be officially reported."

Samuel McKee, for appellant.

A. E Willson and H. S. Barker, for appellees.

LEWIS J.

At a sale of appellant's land made September, 1885, under judgment of court, he became the purchaser, and with his surety executed, for the amount bid, three bonds, payable respectively, in 6, 12, and 18 months. But, failing to pay the last one due of them, an attachment was issued against him and his surety, which was, however, upon their motion respited by the court until a day named, upon terms that appellant surrender the property so sold and purchased by him, to be again sold for cash by the marshal of court upon 10 days' notice, and that the surety bid at the sale when made, enough to pay the bond, interest, and costs; which terms were accepted by them. And the land, having been surrendered, was under judgment of April, 1887, sold by the marshal, May 5, 1887, when appellee became purchaser, and afterwards paid the amount bid into court. But the report of sale was excepted to, and reversal of the judgment confirming is now asked, upon the principal ground that the marshal did not, previous to making sale, cause the land to be valued under oath by two disinterested housekeepers, as counsel argues article 8, c. 63, Gen. St., required. That statute, first enacted in 1878, affords to a defendant the same right to redeem his land sold, in pursuance of an order or judgment of court, for less than two-thirds of its appraised value, that he already had in case of sale under execution. But, when a sale is made without being subject to the conditional right of redemption, there is no reason for previous appraisement. The design of giving one year in which a defendant may redeem his land sold under order or judgment is to afford him an opportunity to relieve himself against sacrifice of his property by an enforced public sale. But a purchase at such sale, whether made by the defendant himself or another, is the voluntary act of the bidder, and an undertaking that he makes it in good faith, and will, without any reservation, comply with its terms. Consequently a failure to promptly pay the sale bonds as they fall due not only subjects the purchaser and his surety to process for contempt of court, but the land to absolute sale to pay the...