Leiter v. Carpenter

The Chancellor :

This is a subrogation bill in which the complainant, a guarantor, seeks reimbursement for money paid for the defendant, who was primarily liable for the debt.

On May 14th, 1929, the defendant, Jeannette V. V. Holliday, now Jeannette V. V. Carpenter, became the equitable owner of certain property in Harrisburg, Pennsylvania, the legal title to which was taken in the name of the Commonwealth Trust Company, a corporation of that State. At the time of the purchase, there were two mortgage liens on the property, both of which were accompanied by bonds which were not entered. The…