McLean v. Diack

During the year 1929, plaintiffs purchased a certain piece of real estate in Ann Arbor for the gum of $31,000 and in July, 1931, mortgaged this property to defendants to secure the repayment of $15,000. This property was used by plaintiffs as their home until October 1, 1933, when they rented it to a tenant on a two-year lease for a monthly rental of $90 which included the use of certain furniture at a charge of $20 per month. During this period, plaintiffs collected $2,160 in rent and claim to have paid out $2,362.60 in repairs and improvements on the property. Plaintiffs defaulted in their…