De Blouw v. Ramm & Co.

In 1925, plaintiffs, as owners, conveyed by warranty deed to defendant Ramm & Company a tract of land consisting of approximately 20 acres in Macomb county. They received in payment $6,500 in cash and a purchase-money mortgage of $23,500. They also reserved all the buildings on the premises, the growing crops, and the use of the land until December 1, 1925, at which time the buildings were to be removed. Ramm & Company made payments on the mortgage and reconveyed certain portions of the premises for credit, so as to reduce the balance due on the principal to the sum of $14,898.85. Defendant…