Melville Fuller

“ In respect of the nature of a conveyance in mortgage at common law, the legal title vested in the mortgagee, and was forfeited upon default, but equity established the right of redemption after default. And, variously modified, where the common-law doctrine prevails, a mortgage is still regarded as a conveyance in fee, although a conveyance as a security; while in many of the states this has been changed, chiefly by statute, so that a mortgage is regarded merely as a pledge. ”

“ Such, to our mind, cannot be the law. Notwithstanding the fact that the foreclosure proceedings might have been void, it is clear that the purpose of such proceedings was to cut off and destroy the title of plaintiff; and therefore the conveyance by the trustee to Hartley, had it been legal, would have terminated plaintiff's title. ”

“ In the summer of 1888 the affidavit of Isaac Harter, Jr., was filed in the county court, in the course of disposing of other real estate than this, to the effect that Isaac Harter, upon his decease, had left no debts unpaid; and therefrom it also appeared that Isaac Harter died February 7 , 1876, whereupon the clerk who had filed the affidavit obtained a quitclaim from Virtue, and set up this claim to the land. The land, which was worth perhaps $120 in 1858, had suddenly increased in value to about $12,000 in 1888, chiefly within the year or two preceding. ”