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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 1529   View pdf image (33K)
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ART. 66] DECREE IN PERSONAM. 1529

of attorney as the person to make said sale by virtue of the authority
supposed to be contained in said mortgage, and by virtue of authority
supposed to be conferred by section 5 of article 64 of the code of
public general laws of 1860, now embodied in section 6 of this article,
and which said sale has been duly reported to the court having juris-
diction in such cases and by said court after order nisi, and due pub-
lication thereof or other proper legal proceeding finally ratified and
confirmed is hereby made valid and effectual to all intents and pur-
poses as fully as if the person so making said sale had been named in
said mortgage as the person to make said sale or to execute said power
of sale; and this section shall apply to all cases whether the person
making said sale was named by a mortgagee being a natural person
or by a mortgagee being a body corporate.

This section is constitutional and covers a case pending at the time of its
passage. It applies to a sale made in 1872 under a power of sale contained
in a mortgage to a corporation, the power being conferred upon the "solici-
tor" of the corporation. Madigan v. Workiugmen's Bldg. Assn., 73 Md. 319.
And see Stump v. Warfield, 104 Md. 548.

1904, art. 66, sec. 24. 1892, ch. 111, sec. 24.

24. If upon the sale of the whole mortgaged property by virtue of
a power of sale contained in the mortgage under the provisions of this
article, the net proceeds thereof, after the costs and expenses allowed
by the court are satisfied, shall not suffice to pay the mortgage debt
and accrued interest as the same shall be found and determined by the
judgment of the court upon the report of the auditor thereof, the court
may, upon the motion of the plaintiff, the mortgagee or his legal or
equitable assignee, after due notice by summons or otherwise as the
court may direct, enter a decree in persmam against the mortgagor or
other party to the suit or proceeding who is liable for the payment
thereof for the amount of such deficiency; provided, the mortgagee or
his legal or equitable assignee would be entitled to maintain an action
at law upon the covenants contained in the mortgage for said residue
of said mortgage debt so remaining unpaid and unsatisfied by the pro-
ceeds of such sale or sales, which decree shall have the same effect and
be a lien as in the case of a judgment at law and may be enforced
only in like manner by a writ of execution in the nature of a writ of
fieri facias or by attachment or otherwise.

See sec. 33.

See art. 16, sec. 217.

Ibid. sec. 25. 1892. ch. 392. sec. 25. 1910, ch. 719 (p. 202).

25. The title to all promissory notes and other instruments
hereafter made, and debts hereafter contracted, secured by mort-
gage or deeds in the nature of a mortgage, shall both before and after
the maturity of such notes, other instruments or debts, be conclusively
presumed to be vested in the person, persons or body corporate holding
the record title to such mortgage or deed in the nature of a mortgage;
and if such mortgage or deed in the nature of a mortgage is duly

 

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The Annotated Code of the Public Civil Laws of Maryland, 1911
Volume 372, Page 1529   View pdf image (33K)
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