Jefferson National Bank of Miami Beach v. Three Way Corp.

The basic question presented upon this appeal concerns the legal effect upon the title to real property of a recorded “Agreement Not to Encumber”. The real property was mortgaged after the agreement was recorded. The appellant bank to whom the agreement was given was made a party to a foreclosure instituted by the appellee corporation. The bank appeals a final judgment which held that the bank did not have a prior lien on the land.

The appellant has presented four points, all of which argue that the agreement is in actuality an equitable mortgage. Unfortunately this question is not presented *434by…