Case Name: Gibson and others vs. Williams, heir of Williams
Court: North Carolina Superior Court
Jurisdiction: North Carolina
Decision Date: 1803-06
Citations: 2 Hayw. 281
Docket Number: 
Parties: Gibson and others vs. Williams, heir of Williams.
Judges: 
Reporter: North Carolina Reports
Volume: 3
Pages: 281–281

Head Matter:
Circuit Court of ills United States..,
Raleigh,
June Term, 1803.
Gibson and others vs. Williams, heir of Williams.
tep til'd -ir.\% a cci.fa so subject him to the payment of a debt rs~ covered .igain&t. she executor of Win. Williams, his ancestor., píeate-d diV; bbad nothing by devise, and as to what bs had hy docc'íüíy tlut lie had in 1 ‘¡'Mñ mortgaged ths lairds, descended to certain creditors of his ancestor for eighteen unasked dollars,! •.‘.rid hid paid bond deh;s besides, to the valúe of the lands. It appeared he had in 1S0Í sold >:he equity of redemption, and these questions arose as to the value above the debts paid for bis aii--cestn-— -First 5 shall he pay interest for the surplus ? and it war; held by Marshall and Fetter,, Judges, that lie should not. Secondly; as to the value shall it be estimated, as worth «t sha death of ’.ha ancestor, or at the time of the mortgage, or at th& P.::s of cr.e in ISO*. ?

Opinion:
Per a-rh'.n.
So much of tks lands as the money secured fay the mortgage was worth, shall be deemed to nave beet* purchased \,y the heir, by payment of the debts of the ancestor; the sur-phi j of the land nhtil be estimated as worth at the time of ¡sale if* 1.80;,,. lit must not be valued as worth at the iliac of descei; to ¡itc defendant, for the intermediate profits are a recompessc? fyr the «¿peaces ¿sir,¡dost to holding the land, such as tases 8&d. !¿k¡ ike,
Verdkfc and judgment sccordimglyc.