New York Supreme Court March 15, 1859 (Pratt v. Stiles)

By the Court.*—E. Darwin Smith, J.

The decision of the *154referee, that the mortgagor was entitled to redeem, was clearly right. Though the mortgagee has the legal title, and the law-day has passed for the payment of the money specified in the mortgage, yet, until foreclosure or sale, the right of redemption clearly exists in equity.