Equitable Trust Co. v. Bankers Trust Co.

On. December 20, 1926, Samuel K. Melon and wife executed a first mortgage to the Bankers Trust Company of Detroit and subsequent ly a second mortgage to the United States Trust Company, as trustee for bondholders, on property improved with a multiple-apartment building in Detroit, Michigan. The Equitable Trust Company claims that it became vested with the title to the mortgage, as successor trustee, after the United States Trust Company changed its name and later merged with the Equitable Trust Company. The second mortgage contained a rent assignment clause. On August 1, 1933, the Equitable…