Complainants purchased the premises in question at sheriff's sale for $100. Defendants object to confirmation on the ground that the bid is inadequate and grossly unconscionable, and they set forth prevailing economic conditions, lack of competitive bidding and financial inability to protect themselves at the sale. The final decree for principal, interest and taxes paid by complainants is $50,500. The sale had heretofore been postponed on application of defendants for almost four months, upon payment of half a year's taxes and interest, defendants representing that negotiations for sale of the land were pending. In opinion of defendant who purchased the premises, they now have a value of $90,000. Held, the matter will be referred to a master to ascertain and report the fair value of the mortgaged premises unless complainants credit $30,000 on the bond. Affirmed.
PER CURIAM.
The order appealed from will be affirmed, for the reasons expressed in the opinion delivered by Vice-Chancellor Stein in the court of chancery.
For affirmance — TRENCHARD, PARKER, CASE, BODINE, PERSKIE, HETFIELD, DEAR, WELLS, WOLFSKEIL, RAFFERTY, COLE, JJ. 11.
For reversal — THE CHIEF-JUSTICE, HEHER, JJ. 2.