West Lumber Company v. Schnuck

1. The grantee in a deed to secure debt, containing a power of sale, is not required to give notice to the grantor of his intention to exercise the power of sale contained in the instrument, where the same provides for no notice other than by advertising in a given manner.(a) A deed to land to secure a debt is an absolute conveyance until the debt is paid and passes the title to the land to the grantee therein.(b) A transferee holding such a deed vesting legal title to land in the grantee and his assigns, subject to be defeated by payment of the debt, occupies the position of such grantee as…