Opinion ID: 1143719
Heading Depth: 1
Heading Rank: 5

Heading: mortgage interest in george's statutory right of redemption

Text: In the district court, Carmen brought suit alleging George fraudulently conveyed his statutory right of redemption in the real property sold at execution. George conveyed that right to his brother Frank, and his mother, Myra, within two days after the execution sale. In response to Carmen's suit, George moved for summary judgment. The district court reviewed Carmen's legal rights and determined she had no right to levy upon George's right of redemption. Absent an interest of Carmen in George's redemption right, the district court concluded Carmen had no standing to allege fraudulent conveyance of the redemption right and granted George's motion for summary judgment. On appeal in Supreme Court No. 15143, Carmen asserts the district court decided the wrong legal issue. Carmen argues that although she may not have had a right to levy on George's redemption right, as decided at trial, she nevertheless had a mortgage interest in it. Carmen reasons that the execution sale involved a levy upon George's land only for the initial $100,000 payment plus interest. George still had an obligation to execute a mortgage securing Carmen's remaining judgment amount of $273,739.40 in any realty awarded George by the partition order remaining after the execution sale, such as his right of redemption, according to Carmen. If real property is transferable, then it is mortgageable. I.C. § 45-1001; Evans v. Humphrey, 51 Idaho 268, 272, 5 P.2d 545 (1931). Carmen concludes that George's right of redemption, a transferable right, was subject to her mortgage interest. However, as previously discussed, George transferred his right of redemption prior to executing any mortgage in favor of Carmen. He no longer had an interest in which to give Carmen a mortgage. Furthermore, Carmen is not entitled to an equitable mortgage for reasons previously discussed. Therefore, Carmen had no mortgage interest in the right of redemption which George conveyed away.