McRae v. Newman
Supreme Court of Alabama
Appeal from tbe Chancery Court of Barbour. Heard before tbe Hon. B. B. MoGraw. I. As Kolb bad no legal estate at tbe time be made tbe mortgage to Newman, no legal estate passed by tbat conveyance to Newman; tbe mortgage conveyed only tbe equitable estate which Kolb then bad for tbe security of tbe debt to Newman. — Ghapman v. Glassel, 13 Ala. 54; Edmonson v. Montague, 14 Ala. 376. II.
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Appeal from tbe Chancery Court of Barbour. Heard before tbe Hon. B. B. MoGraw. I. As Kolb bad no legal estate at tbe time be made tbe mortgage to Newman, no legal estate passed by tbat conveyance to Newman; tbe mortgage conveyed only tbe equitable estate which Kolb then bad for tbe security of tbe debt to Newman. — Ghapman v. Glassel, 13 Ala. 54; Edmonson v. Montague, 14 Ala. 376. II. Kolb’s subsequent acquisition of tbe legal title did not enure to Newman, so as to unite tbe legal to the equitable estate conveyed to Mm by tbe mortgage; for tbe mortgage could act upon tbe subsequently…
1Opinion of the CourtManning, J.
Appellee, Newman, a citizen of Virginia, was in 1866, owner of a plantation in Barbour county, Ala*533bama, called the “Fitzhugh Place”; and in September of that year, an agreement was made between him and Eeuben F. Kolb, (who then occupied the premises under a lease from Newman,) for a sale of the property to Kolb for $10,000; of which Kolb was to pay $4,000, in cash, and for the balance, give his two notes of $3,000 each, secured by a mortgage of the premises, and payable with interest from 1st of January, 1867, at one and two years after date. Upon making the first payment, and the notes and…
2Cases cited1 opinion
- Boynton v. SawyerSupreme Court of Alabama · 1860
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