Case ID: nc_5/html/0333-01.html
Source: Caselaw Access Project
Author: {"author": "By the Court.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Allison v. Gregory & sons, and Kirkland.
    "1 From Hillsborough.
    An equity of redemption cannot be sold by yirtue of an execution at Law. ,
    Allison being indebted to Gregory Sc sons, of Charleston, mortgaged to them a house and lot in the town of Hiílsborough, to secure the payment of the debt: and being also indebted to one Armstead, he was sued by Armstead in Edenton Superior Court, and judgment was obtained .against him; upon which., judgment an execution was Issued, directed to the Sheriff of Orange county, who levied it upon the aforesaid house and lot, and at. the sale, Kirkland became "the purchaser. Some time after the pinchase, Kirkland filed a bill against Gregory Sc sons, for the purpose of redeeming the house and lot as to them, and against Pratt and Taylor, who had purchased from Allison other parts of the property mortgaged to Gregory & sons, for the. purpose of compelling them to pay their proportional parts of the money due on the mortgage. Gregory & sons filed a bill to foreclose the equity of redemption; and Allison filed a bill against Gregory ¡St sons and Kirkland, to redeem the house and lot. To Allison’s bill, Kirkland demurred, and the question arising upon the demurrer was, Whether ¡Allison’s equity of redemption in the house and lot was liable tq, be;Sold under an execution at Law ?
   By the Court.

An equity of redemption cannot be sold by virtue of an execution at Law. Allison is therefore cntitled.to redeem : but Kirkland should stand in the place of Armstead, whose diebt he satisfied, and is entitled to have his money, with interest thereon, refunded by Allison, he being accountable to Allison for tlm. rents and profits of the house and lot, during the time that he has had them in possession. 
      
       The General"Assembly in 1812, passed-ánactSttBJíjfetíngan equity Df redemption to sale under an execution at i,aw.