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FEDERAL NATIONAL MORTGAGE ASSOCIATION v. GUY HEAVENER (11/20/74)

decided: November 20, 1974.

FEDERAL NATIONAL MORTGAGE ASSOCIATION, APPELLANT,
v.
GUY HEAVENER, INC., APPELLEE



Appeal from the Order of the Court of Common Pleas of Bucks County in case of In Re: Condemnation by the Commonwealth of Pennsylvania, Department of Transportation, of Right of Way, for Legislative Route 1068, Section 2 R/W, a/k/a Legislative Route 1068, Section AO2 a Limited Access Highway, in Dolyestown and Plumstead Townships. Commonwealth of Pennsylvania, Department of Transportation v. Arthur T. Sturgeon and Betty Ann Sturgeon, his wife, No. 72-2623-04-6.

COUNSEL

John D. Trainer, with him William M. Power, for appellant.

No appearance for appellee.

Judges Mencer, Rogers and Blatt, sitting as a panel of three. Opinion by Judge Rogers.

Author: Rogers

[ 16 Pa. Commw. Page 387]

The issue in this case is whether a mortgagee which has bought in the mortgaged property for its record costs at sheriff's sale on a judgment obtained in an action of mortgage foreclosure is entitled to payment from a fund produced in eminent domain proceedings of money owed on the mortgage in excess of the amount produced by a subsequent private sale of the property where (a) the condemnation of a part of the mortgaged property preceded the execution sale, (b) the mortgagee did not obtain a deficiency judgment, and (c) the fund produced by the condemnation remained undistributed until a time after the mortgagee's right to obtain a deficiency judgment had expired. We hold that it may not.

The sequence of events here was as follows:

February 10, 1972 -- the appellant, Federal National Mortgage Association, filed its complaint in mortgage foreclosure.

[ 16 Pa. Commw. Page 388]

March 22, 1972 -- the appellant took judgment by default in the mortgage foreclosure action.

Eo die -- the Commonwealth of Pennsylvania filed a declaration of taking of an easement over a portion of the mortgage premises.

June 9, 1972 -- the appellant purchased the mortgaged property at execution sale for its record costs.

October 20, 1972 -- the Commonwealth by allowance of Court deposited $3000 estimated ...


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