Northrop v. Beale

On the 8th day of July, 1981, the appellants, Claudian B. Northrop and Eleanor G. Northrop, his wife, executed a deed of trust to William L. Beale and George W. Brown, trustees, conveying the property therein described, being a lot containing a half acre, improved by a fourteen-room, frame, dwelling, located at Chevy Chase in Montgomery County, to secure the payment to the American Security & Trust Company of Washington, D. C., of the sum of $12,000 three years after date, with interest at 51/2 per cent., payable semiannually. The instrument, though in form a deed of trust, was in effect a…