Woolley v. Holt
Court of Appeals of Kentucky
Case 55 — PETITION EQUITY APPEAL FROM LOUISVILLE CHANCERY COURT. 1. An assignment of a reversion does not, by common law, carry rent as an incident; neither does a partial assignment pass the rent under the statute. A mortgage is not an assignment; neither does it convey any title or estate in the land mortgaged.
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Case 55 — PETITION EQUITY APPEAL FROM LOUISVILLE CHANCERY COURT. 1. An assignment of a reversion does not, by common law, carry rent as an incident; neither does a partial assignment pass the rent under the statute. A mortgage is not an assignment; neither does it convey any title or estate in the land mortgaged. A receiver of a mortgaged reversion has no claim to the lease, which, before his appointment, had been sold to a meritorious purchaser. 2. A mortgagee, who has no specific pledge of the rents and profits of the mortgaged premises, can not claim them as a legal incident to or a legal…
1Opinion of the Court
JUDGE HINES
delivered the opinion of the court.
William Johnston, in March, 1873, leased to Borden a parcel of land lying in the city of Louisville for the period of ten years. In July, 1874, he mortgaged the same land to appellee to secure the payment of a debt for $5,000, and in February, 1875, Johnston sold and transferred the lease to appellant. Subsequent to the transfer of the lease appellee brought suit to subject the land to the payment of the mortgage-debt, making appellant a defendant, and calling upon him to assert his claim, asking for the appointment of a receiver, and that the…
2Cases cited1 opinion
- Douglass v. ClineCourt of Appeals of Kentucky · 1876
3Cited by11 opinions
- McDonald v. Hartford Trust Co.Supreme Court of Connecticut · 1926
- Watt's Administrator v. SmithCourt of Appeals of Kentucky (pre-1976) · 1933
- New Farmers Bank's Trustee v. CockrellCourt of Appeals of Kentucky · 1899
- Board of Council v. Fidelity Trust & S. V. Co.Court of Appeals of Kentucky · 1901
- Caldwell v. AlsopSupreme Court of Kansas · 1892
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