Mortgages - Foreclosure by Piecemeal: The Rule in Dupuy v. Western State Bank
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Authors
Siffring, Robert R.
Issue Date
1987
Volume
20
Issue
Type
Journal Article
Language
Keywords
Alternative Title
Abstract
INTRODUCTION|Throughout the long history of American mortgage law, the rights of the mortgagor and mortgagee have been delicately balanced. The Nebraska Supreme Court has forged a new rule concerning mortgage foreclosure in Dupuy v. Western State Bank. In Dupuy, the court tipped the scale of justice in favor of the mortgagee, subjecting the mortgagor to successive foreclosures of a single mortgage. The court refused to follow long-established and well-reasoned property law, and instead formulated a rule that permits multiple foreclosure actions to be founded upon a single mortgage instrument. The rule established in Dupuy allows a single mortgage instrument secured by several parcels of land to be foreclosed successively and independently upon each parcel until the debt is satisfied.|The decision in Dupuy concerned mortgages, which are generally understood to be security devices, insofar as they pledge the fulfillment of the mortgagor's debt. The subject of a mortgage is land. The mortgage instrument is executed with the intention that if the mortgagor's debt is not repaid, the property is to be sold to satisfy the debt. Thus, the mortgage instrument is executed to secure the debt of the mortgagor...
Description
Citation
20 Creighton L. Rev. 623 (1986-1987)
Publisher
Creighton University School of Law