Chapman v. Tibbits

The general guardian of infants has the same power over the property and estate of his wards, as a testamentary guardian; and can receive moneys secured to them by mortgage and discharge the mortgage, before the same becomes due.

The sum of two hundred dollars was bequeathed to each of the five minor children of George L. Chapman, and the same was loaned to the latter, upon interest. To secure the payment thereof, he executed a bond, with a mortgage, in which his wife joined, upon certain lands in the county of Rensselaer, conditioned to pay the said principal sum of two hundred dollars, with the interest, to each of the said infants as they respectively attained the age of twenty-one years. Afterwards he was duly appointed the general guardian of each of the said infants, by the surrogate of the county of Rensselaer, by letters dated April 28,1842, and qualified as such. In March, 1847, he, together with his wife, conveyed the mortgaged premises by deed of conveyance, to the defendant in this action, subject to the mortgage. In September, 1847, the defendant, at the request of the guardian, paid him the principal sum mentioned in the mortgage, with the interest to the time of payment, and the latter, as such guardian, executed a certificate of satisfaction in the usual form, and the mortgage was thereupon satisfied and canceled of record. Four of the infants, upon attaining fall age, executed an assignment of their interest in the mortgage to tlie plaintiffs’ intestate, Moses Chapman, who instituted the present action to foreclose the same. He died pendente lite, and the plaintiffs were substituted in his place. The foregoing facts were found by the judge at Special Term, and judgment thereon rendered for the defendant. An appeal was taken to the General Term of the third district, where the judgment was affirmed, and hence the appeal to this court.