Bedcro Realty Corp. v. Title Guarantee & Trust Co.

Plaintiff brought this action to compel the defendants to return a guaranteed mortgage certificate of the face value of $15,000, and for an accounting of income received’ thereon and the payment thereof to plaintiff.

As security for the payment of interest on a mortgage debt of the plaintiff to the Title Guarantee & Trust Company and for the payment of taxes, assessments and water rents against the real property secured by the mortgage, the Trust Company held a guaranteed mortgage participating certificate of the face" value of $15,000, belonging to plaintiff, which was secured by a mortgage…