English v. Fischer

WALLACE, Justice.

This is a suit for damages by a homeowner against the mortgagee for failure to turn over the proceeds of a fire insurance policy in order to aid the homeowner in rebuilding after a fire. The trial court rendered judgment for the homeowner and the court of appeals affirmed, 649 S.W.2d 83. We reverse the judgments of the courts below and render judgment for the mortgagee.

Jerry Fischer and wife Alice (Fischer) purchased a home from Sarah Jane English (English) in 1967. Part of the consideration received by English was a promissory note for $62,500 secured by a lien on the house.…