Union Trust Co. of Maryland v. Townshend

The promise of Smith to pay the debt due by him to the Union Trust Company of Baltimore out of the proceeds of any sale of his property, did not give rise to a lien upon the property because it was not thereby placed beyond his control. Such a promise does not create a lien. Lone Star Cement Corp. v. Swartwout, 4 Cir., 93 F.2d 767, and cases cited; see, also, In re Interborough Consolidated Corp., 2 Cir., 288 F. 334, 32 A.L.R. 932; Long v. Farmers’ State Bank, 8 Cir., 147 F. 360, 9 L.R.A.,N.S., 585. So much is admitted; but it is said that when the property was sold, and the proceeds came…