Victor Investment Co. v. Roerig

124 P. 349, 22 Colo. App. 257, 1912 Colo. App. LEXIS 26
CourtColorado Court of Appeals
DecidedMay 13, 1912
DocketNo. 3442
StatusPublished
Cited by4 cases

This text of 124 P. 349 (Victor Investment Co. v. Roerig) is published on Counsel Stack Legal Research, covering Colorado Court of Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Victor Investment Co. v. Roerig, 124 P. 349, 22 Colo. App. 257, 1912 Colo. App. LEXIS 26 (Colo. Ct. App. 1912).

Opinion

Walling. Judge.

[259]*259In the year 1904, one Carmon obtained a judgment against appellee, in the county court of Teller county, for $113.85 and costs. The judgment credit- or was then and at all times mentioned herein a resident of the state of Washington, and he was represented by Victor H. Miller, an attorney-at-law residing at Cripple Creek, who prosecuted the claim to judgment. In April, 1907, execution was issued upon the judgment, by direction of Miller, as attorney for the judgment creditor, to the sheriff of the City and County of Denver, and levied on real estate in that city and county, owned by appellee, and occupied by himself and family as their residence. The levy was followed by sale of the property, under the execution, to the appellant, and, after the expiration of the statutory period of redemption, a sheriff’s deed was executed to it. Thereafter this suit was commenced by appellee to set aside the execution sale, and cancel the sheriff’s deed. The appellee obtained a decree in the district court, setting aside the sale and deed, upon the payment to the appellant of the purchase price paid for the property at the sheriff’s sale, with interest. The court incorporated in the decree its findings of fact and conclusions of law, from which it appears that the decree was based upon the theory of gross inadequacy of the price bid, and for which the property was sold at the execution sale, to-wit, $100, coupled with supposed unfairness in the conduct of the sale. The ultimate finding of fact was as follows: “That the facts and circumstances connected with the said sale are not sufficient to establish actual fraud on the part of either the purchaser, or officer conducting the sale, or the' judgment creditor, but are suf[260]*260ficient to show an unfairness in the conduct of the sale and not such as to encourage competition and adequate bids for the property.” It was concluded, as matter of law, (1) “that inadequacy of price is not within itself sufficient to warrant the setting aside of the sale;” and (2) “that the circumstances of unfairness proven are not .alone sufficient to invalidate the sale;” but (3) that the two elements combined were sufficient to justify the decree. On the part of the appellant it is contended that the evidence did not support the findings of the trial court, that the facts found, so far as supported by any evidence, did not warrant the conclusions based thereon, and that the decree was contrary to the evidence and the law. Without special reference to the findings, it is insisted by counsel for the appellee, in support of the decree, that the purchase price bid was grossly inadequate; and, further that there was evidence of irregularities in the levy and sale, which, in connection with the alleged inadequacy of price, sufficed to avoid the execution sale and sheriff’s deed, as against the appellant. The evidence respecting the value of the property was, as is usually the case, very much in conflict, and covered a somewhat wide range of estimation. The trial court found that the property was “of the value of at least two thousand dollars,” which sum was less than the estimate of some of the witnesses, and more than that of others, and may be considered as representing a fair average of all of the opinions given in testimony. The complaint alleged that the value of the property was $2,300. In view of the superior advantages possessed by the trial court for weighing the testimony, its finding with respect to the value [261]*261will be accepted. The property was encumbered, at the time of the sale, with a mortgage amounting to $1,200. We have not been referred to any authority in support of the conclusion that, under such circumstances, the bid of $100 for the property at the execution sale was grossly out of proportion to its true value. The general trend of judicial opinion seems to be to the contrary, especially where the debtor is allowed by law a right of redemption from the sale. - “At judicial sales, where there is a redemption, it is a well known fact that lands, unless where necessary to secure the debt, are rarely sold at anything approximating their real value. Such purchases are not looked upon as a desirable mode of investment. There is seldom competition. The creditor, for the most part, has to take the land in satisfaction of his debt and wait for it to be redeemed.” Watt v. McGalliard, 67 Ill., 513, 517. See also Clark v. Chapman, 98 Calif., 110; Kerr v. Haverstick, 94 Ind., 178. The learned trial judge rightly concluded that the sale ought not to be vacated for inadequacy of price. Conway v. John, 14 Colo., 30; Watt v. McGalliard, supra; 2 Freeman on Exec. (3rd ed.), sec. 309; Griffith v. Milwaukee Harvester Co., 92 Ia., 634.

Considering the objections to the sheriff’s deed, arising out of claimed irregularities in the levy of the execution and the conduct of the sale thereunder, it will be observed that the deputy sheriff, who appears to have had the levy and sale in charge, was dead at the time of the trial. The facts, with respect to the proceedings under the execution, depend upon the testimony of the appellee, and of Victor H. Miller, who was the attorney for the plaintiff in the [262]*262execution, and was also vice-president and general attorney of the appellant, and acted for the latter in bidding at the sale. Miller was called for cross-examination, under the statute, by plaintiff’s counsel, and the facts developed upon his examination stand uncontradicted. Appellee testified, in his own behalf, that he had no notice or knowledge of the issuing of the execution, or of anything done thereunder, until after the sheriff’s deed had been recorded, and demand was made upon him for possession of the property by the appellant, through Miller, as its agent and attorney. It was not claimed that the execution or the return of the sheriff thereon disclosed any defect, or that the sale was not duly advertised, in the manner required by law. The contention is made, however, that the sheriff violated his duty in the premises, by failing to notify the defendant of the existence of the execution, so as to give him the opportunity to either pay the debt, or designate other property, sufficient to satisfy the writ, before levying upon his residence. In support of this claim, reliance is placed upon section 2539 Mills’ Ann. Stats, (section 3608, R. S. 1908): “The plaintiff in execution may elect on what property he will have the same levied, except the land on which the defendant resides, which shall be last taken in execution, excepting and reserving, however, to the defendant in execution such property as is, or may be, by law exempted from execution.” That section was part of the laws enacted by the first territorial legislature, and re-enacted in the revised statutes of 1868; and it has reappeared in each successive revision and compilation of the laws of the state. It does not seem to have been construed or [263]*263mentioned in any decision of onr courts. We have no statute, which in terms requires demand upon or notice to the defendant in execution, prior to the levy of the writ. In fact, no method of procedure is prescribed, with respect to the levy of an execution, out of a county court, upon real estate, whether situated in the county wherein the judgment was rendered, or in another county. Section 2583 Mills’ Ann. Stats. (section 3637, R. S.) refers, only to an execution issued out of a district court. See Herr v. Broadwell, 5 Colo. App., 467.

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Bluebook (online)
124 P. 349, 22 Colo. App. 257, 1912 Colo. App. LEXIS 26, Counsel Stack Legal Research, https://law.counselstack.com/opinion/victor-investment-co-v-roerig-coloctapp-1912.