made should be correctly stated in order that the party enti tled to redeem may know the amount paid,' and an objection that the amount paid is less than the actual debt is made too late after the officer has accepted it. Where foreign currency is tendered and accepted a deficit of a few cents is not material. A creditor, who, after redeeming, causes the property to be sold on his execution, and bids it in at a price less than that paid for its redemption, will hold title under his execution, not as a redemptioner. If a party advances his bid after a sale made to him, the debtor need only pay the amount of his original bid, the advance after sale being a fraud on the debtor's right to redeem. Where the officer making the sale receives depreciated currency, the redemptioner can not tender the value of the currency, but must pay the full amount of the claim." The debtor's right to redeem can not be defeated by selling the same property on a second execution.' A junior creditor who purchases and takes the assignment of the certificate of sale holds it subject to redemption by subsequent creditors. There is no concurrent redemption; the party first redeeming takes the land." Nor is there a right of redemption from sales on mechanics' liens." The legal owner of the judgment is entitled on redemption to the deed irrespective of the equities of others in the judgment under which he redeems." When a judgment is utterly void, a sale under it is equally void, and it is not such a sale as will entitle a creditor to redeem." The debtor's title is not divested until after the expiration of the time to redeem;" but by failure to redeem the title becomes

1 Mascroft v. Van Antwerp, 3 Cow. 334.

2 Karnes v. Lloyd, 52 Ill. 113.
In re Becker, 4 Hill, 69.
Oliver v. Crosswell, 42 Ill. 41.
Wood v. Chilcoat, 1 Coldw. 423.
Schofield v. Bessenden, 15 Ill. 78.
Merry v. Bostwick, 13 Ill. 398.
8 Wilson v. Conklin, 22 Iowa. 452.
In re Ives, I Hill, 639.

10 Link v. Architectural, &c. Works, 24 Ill. 551.

11 Beekman v. Bunn, Hill & D. 205.

12

Johnson v. Baker, 38 Ill. 98.

13 Schemerhorn v. Merrill, 1 Barb. 511. Smith v. Colvin, 17 Barb. 157. Curtis v. Millard, 14 Iowa, 128. Cummings v. Coe, 10 Cal. 529. Page v. Rogers, 31 Cal. 293.

absolute.' Having shown the general principle governing the right of redemption of property from sale under execution a synopsis of some of the statutory provisions will be given so that the principles herein set forth may be applied to the redemption laws.

§ 266. In Alabama, in case of a sale of land on execution, the mortgagor, his executor, administrator, or judgment-creditor, may redeem the land of the purchaser or his vendee within two years thereafter, on payment of the purchase-money, with ten per cent. interest, together with the value of all permanent improvements made by the occupant. In California, when the estate is less than a leasehold of two years' unexpired term, the sale is absolute. In all other cases subject to redemption by the judgmentdebtor, or his successor in interest, or by a creditor having a lien by judgment or mortgage on the property sold, or any part thereof, subsequent to that on which the property was sold, within six months after the sale, on paying the purchaser the amount of the purchase-money and interest, within eighteen per cent. thereon, and the amount of any prior lien held by the purchaser. The property may be redeemed again by another party having the right to redeem, within sixty days after the last redemption. In Oregon, redemption is to be made within sixty days, on payment of the purchase-money, and interest at two per cent per month. In Iowa, if the estate levied upon is less than a leasehold having two years of an unexpired term, the sale is absolute. Otherwise it redeemable by the defendant within a year from the sale. For the first six months of such time, his right to redeem is exclusive; aft which time his creditors may redeem within nine months of the sale.

In Kentucky, where land is sold under execution, it is the sheriff's duty to show, by his return on the execution, how he proceeded under it, stating the purchaser's name, and giving some general description of the land in the return. It is also his duty to procure the part sold to be valued. 1 Chandler v. Sawtelle, 22 Vt. 318.

after the sale, and to make return thereof with the execution, that the debtor may be furnished with the evidence of his right to redeem, in case such right exists. The omission of these duties, however, will not vitiate the sale, or affect the legal rights of the purchaser.

The legal right to redeem depends upon the valuation being made and returned in due form by the sheriff on the execution. And where he has omitted to make such return, the debtor has no legal right to redeem, and can not resist a recovery in ejectment, on the ground that the land sold under two-thirds of its value, and the time for its redemption has not expired, If the debtor has any remedy it is in chancery. If the land does not bring two-thirds of the valuation, the defendant or his representatives may redeem within a year, by paying the purchase-money, and ten per cent. interest thereon. In Michigan, it may be redeemed within one year, and the right and title of the person against whom the execution issued, shall not be divested until the expiration of fifteen months from the time of such sale. In Minnesota, the sale of an estate less than a leasehold of two years' unexpired term is absolute. In other cases, the debtor or his creditors may redeem within three. years from the time of sale upon execution, upon payment of the purchase-money, with interest thereon at the rate of seven per cent., and the judgment-debtor, or any one claiming under him, is entitled to the possession of the premises, upon condition that he pay the interest as above provided. In Rhode Island, notifications of a levy upon real estate must be made for the space of three months after such levy, and before the same shall be exposed to sale, that the owner thereof may have an opportunity to redeem. In Tennessee, the debtor may redeem within two years of sale on execution, on payment of the amount bid or paid by the purchaser, with six per cent. interest. In Wisconsin, the estate may be redeemed within two years of sale on execution, upon payment of the purchase-money, with ten Reid v. Heasley, 9 Dana, 324. Lawrence v. Edelen, 6 Bush. 55

per cent. interest. In New York and Illinois, redemption of the land sold may be made by the debtor or his representative within one year, on paying the amount of the bid, with ten per cent interest. Any joint tenant or tenant

in common may redeem his ratable share of the land by paying a due proportion of the purchase-money. On default of the debtor, any creditor, by judgment of law or decree in equity, and in his own right, or as a trustee, within three months after the expiration of the year, may redeem the land on paying the purchaser-money, with seven per cent. interest. So any other judgment creditor may redeem from such prior creditor, on refunding his purchasemoney, with interest, and also the amount due on his judgment or decree, if the same be a prior lien on the land. The redemption is allowed to be carried further, and is given to a third or any other creditor, who may redeem from the creditor standing prior to him, on the same terms. But all these subsequent redemptions must be within the fifteen months from the time of the sale; for the officer is then to execute a deed to the person entitled, and the title so acquired becomes absolute in law. In Maine, New Hampshire, Massachusetts, and Connecticut, redemption may be made in one year with lawful interest. In Vermont, six months is allowed. In Mississippi, with ten per cent. interest.'

Walker v. Brown, 45 Miss. 615.

CHAPTER XVI.

OF THE PROCEEDS OF THE SALE, AND SATISFACTION OF THE EXECUTION.

Duty of Officer to Pay.-To whom to be Paid.—Who entitled to the Proceeds.-Duty of Officer with respect to the Purchase-money. Wher the Senior Writ is entitled to the Proceeds. When the Junior Writ is entitled thereto.--Application in case of a Dormant Judgment.--When the Proceeds will be equally distributed.—Assignees' Right to Proceeds.— Surety's Right to proceeds.-Proceeds in Cases where Indemnity is Furnished.--What claims are entitled to a prior distribution of Proceeds. Of the Distribution of the Surplus. – When their Application will and will not be directed by the Court.-Satisfaction of Execution.- What is.—What is not.-Entering and vacating Satisfaction.

$267. HAVING completed the proceedings under the execution, made a valid sale of the property levied upon, and made the return as required by law, the next proceeding is the disposal or application of the proceeds arising from the sale. Many questions relating thereto have already been disposed of in the chapter relating to matters arising from a levy, ante, chapter IX, and we shall now consider, in connection therewith, the question of their application. As soon as the proceeds of the sale are paid to the officer, it is money had and received for the use of the creditor, and if not otherwise ordered, he is compelled to pay it to such creditor on the return day of the writ under which it was collected, without any demand by such creditor for the money,' and 1 Canterbury v. Commonwealth, I Johns. 133. Dale v. Birch, 3 Campb. Dana, 415. Brewster v. Van Ness, 18 347. State v. Mann, 13 Ired. 444.

.