Mitchell v. Wade
Supreme Court of Arkansas
APPEAL from Phillips Circuit Court in Chancery. Hon. J. N. Cypert, Circuit Judge. 1. Under our statutes no equitable lien can exist. Mortgage liens arise only on the proper filing for record. (Notice does not preserve the lien. 33 Ark., 63, and cases cited. 2. Mortgage is a conveyance of land as security. (Jones on Mort., sec. 16.) The grant is essential to create a mortgage.
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APPEAL from Phillips Circuit Court in Chancery. Hon. J. N. Cypert, Circuit Judge. 1. Under our statutes no equitable lien can exist. Mortgage liens arise only on the proper filing for record. (Notice does not preserve the lien. 33 Ark., 63, and cases cited. 2. Mortgage is a conveyance of land as security. (Jones on Mort., sec. 16.) The grant is essential to create a mortgage. (Story’s jEJq., sec. 1018.) In this case no conveyance was made; only a release of á mortgage lien, and appellee was not even a party to the instrument. 3. Pillow was not a trustee under this release; the fee was in him…
1Opinion of the Court
Hon. Sam. W. Williams, Special J.
On the twenty-sixth day of October, 1871, John 0. Brown and Marion Childress, executors of John H. Pointer, deceased, Gen. G? J. Pillow and D. E. Wade, signed a contract and agreement to the following effect: Pillow and the executors of Pointer agreed to compromise a suit in which Pointer’s executors had obtained a final decree of this court for $152,914.90, which directed a foreclosure of a mortgage made by Pillow to Pointer’s executors on two plantations in Phillips County, called the Lake place and the Defeat Cane place. Against this decree Pillow had…
2Cited by3 opinions
- Ward v. StarkSupreme Court of Arkansas · 1909
- Evans-Snider-Buel Co. v. McFaddenCourt of Appeals for the Eighth Circuit · 1900
- Land v. MaySupreme Court of Arkansas · 1904