Gough v. Home Owners' Loan Corp.

(after stating the case as above).

Jannie Gough acquired the legal .title to the lots. The appellee holds under her. The title of the defendant is an equitable one. Bona fide purchasers and lien-holders for value, acquiring the title to realty or a lien thereon from the owner of the legal title, are protected against equitable titles such as here asserted by John T. Gough. In order for a holder of such equitable title to prevail against such a purchaser or lienholder, it must be shown the latter acquired their rights with notice, actual or constructive, of the outstanding equitable title. The…