Central Holding Co. v. Bushman

Two causes in equity were consolidated and heard together. The first challenges three mortgages as usurious and seeks appropriate relief. Plaintiffs Harold R. Finn and his wife, Geraldine Finn, were the mortgagors. After the indebtedness had been determined and properly evidenced and the mortgages given to secure the same, and after they had been recorded, the Finns conveyed the premises by warranty deed to Central Holding Company, a Michigan corporation. The consideration recited in the deed is one dollar and other valuable considerations. The deed excepts “mortgages of record,” but it does…