Federal Land Bank of Louisville v. Lightfoot

Opinion op the Court by

Judge Richardson

Reversing.

Mary E. Lightfoot, and her daughter, Jane Light-foot, on July 26, 1923, conveyed to Herbert Beard two tracts of land situated in Breckinridge county, Ky.; one of 113, and the other, 397, acres, the latter comprising the Walker tract of 249 and the graveyard tract of 53 acres, for the agreed consideration of $10,000, evidenced by Beard’s and his wife’s notes payable to Mary E. Lightfoot.

The deed contained a clause controlling the right of Beard to cut, remove, and market the timber therefrom and the application of the proceeds to the payment of…