Axman v. Smith
Supreme Court of Missouri
Appeal from Jackson Circuit Court. — Hon. G. L. Dobson, . Judge. (1) The trustee should have divided the property as requested by intending purchasers, and not having done so, the sale will be set aside. “The rule is firmly established that a trustee in selling land is trustee for both parties and is bound to adopt all reasonable modes of proceeding in order to render the sale most beneficial to the debtor.
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Appeal from Jackson Circuit Court. — Hon. G. L. Dobson, . Judge. (1) The trustee should have divided the property as requested by intending purchasers, and not having done so, the sale will be set aside. “The rule is firmly established that a trustee in selling land is trustee for both parties and is bound to adopt all reasonable modes of proceeding in order to render the sale most beneficial to the debtor. Where property is susceptible of division, and it will bring m®re by sale in separate parcels or lots, or -where sale of a part will bring an amount sufficient to pay off the secured debt,…
1Opinion of the CourtValliant, J.
This ig a suit in equity to set aside a trustee’s sale on the ground that it was conducted unfairly and with partiality by him, and resulted in a sacrifice of tbe property.
The petition is in proper form, a brief summary of which is to the -effect that plaintiffs were- the owners of the real estate in question, and they conveyed it by deed to defendant Platt in -trust, to secure a debt- of $5,000 to- defendant Smith with power of sale; that afterwards they borrowed $10,000 from the National Bank of Kansas City, and gave a second deed of trust on the same property, to secure it, and afterwards…
2Cases cited12 opinions
- Tripp v. CookNew York Supreme Court · 1841
- Boyd v. EllisSupreme Court of Iowa · 1860
- Grapengether v. FejervarySupreme Court of Iowa · 1859
- Denning v. SmithNew York Court of Chancery · 1818
- Tatum v. HollidaySupreme Court of Missouri · 1875
7 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Hanson v. NealSupreme Court of Missouri · 1908
- Dibert v. D'ArcySupreme Court of Missouri · 1913
- Spires v. LawlessMissouri Court of Appeals · 1973
- West v. AxtellSupreme Court of Missouri · 1929
- Hernandez v. Westoak Realty & Investment, Inc.Missouri Court of Appeals · 1989
8 more not listed; retrieve them via the Exa API.