Tilford v. Torrey & Lockwood
Supreme Court of Alabama
Appeal from Jefferson Chancery Court. Heard before Hon. Charles Turner. The bill was filed for the foreclosure óf a mortgage on certain real estate in the city of Birmingham, executed by the appellant and her deceased husband, William H. Tilford, to secure the payment of a debt due from him to the appellees.
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Appeal from Jefferson Chancery Court. Heard before Hon. Charles Turner. The bill was filed for the foreclosure óf a mortgage on certain real estate in the city of Birmingham, executed by the appellant and her deceased husband, William H. Tilford, to secure the payment of a debt due from him to the appellees. The bill alleges the mortgaged premises were purchased by the said William H., of the “Elyton Land Company,” that he paid at the time of the purchase, fifty dollars of the purchase money in cash, and made his promissory note for the remainder of the purchase money, which is outstanding…
1Opinion of the CourtBrickell, C. J.
It is a well established principle in courts of equity, that if a trustee invests the funds he holds in a fiduciary capacity, in the purchase of lands, taking the conveyance of title in his own name, the cestui que trust may at his election, charge the trustee personally, or may follow the money into the land, and claim the purchase as having been made for him. The principle applies when a purchase is made by a husband, with the proceeds or accumulations of the wife’s separate estate. 1 'White & Tudor’s leading cases, 277-8; Perry on Trusts, § 127. If a part only of the purchase money is paid…
2Cases cited2 opinions
- Jackson ex dem. Erwin v. MooreNew York Supreme Court · 1827
- Garrett v. Garrett's HeirsSupreme Court of Alabama · 1856
3Cited by37 opinions
- Lehman v. LewisSupreme Court of Alabama · 1878
- Chapman v. AbrahamsSupreme Court of Alabama · 1878
- Preston & Stetson v. McMillanSupreme Court of Alabama · 1877
- Haney v. LeggSupreme Court of Alabama · 1900
- Lamar v. LamarSupreme Court of Alabama · 1955
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