Bank of the United States v. Peter - 38 U.S. 123 (1839)
U.S. Supreme Court
Bank of the United States v. Peter, 38 U.S. 13 Pet. 123 123 (1839)
Bank of the United States v. Peter
38 U.S. (13 Pet.) 123
It is a well settled principle in equity that a judgment creditor, where he is compelled to pay off prior encumbrances on land to obtain the benefit of his judgment, may, by assignment, secure to himself the rights of the encumbrances, and the same rule applies where a junior mortgagee is obliged to satisfy prior mortgages. He stands as the assignee of such mortgages, and may claim all the benefits under the lien that could have been claimed by his assignor. But the effects of this principle may be controlled by acts of the parties.