Phillips, Et Ux. v. the Security Inv. Corp.

This was a suit brought by the appellee, The Security Investment Corporation, to foreclose a certain tax certificate issued at the 1930 tax sale for taxes levied for the year 1929 upon property alleged to be, at the time of the institution of the suit, the homestead of the appellants, Edgar John Phillips and Lois Phillips, his wife. Appellants relied upon Chapter 15053, Acts 1931, to defeat the suit on the ground that it was prematurely brought. The Chancellor below rejected the proposed defense.

It was conceded in the oral argument on behalf of appellants that unless, this Court shall…