Beckett v. Dean
Mississippi Supreme Court
Appeal from the Chancery Court of Clay County. Hon. L. Bkame, Chancellor. Randle Dean, an insolvent, executed, on April 2, 1875, a deed of trust on land to secure a debt due H. H. Harrington, who, on May 2, 1877, transferred the note and trust-deed to Toomer, Sykes & Billups, by whom they were subsequently assigned to T. R. Ivy.
Read the full summary
Appeal from the Chancery Court of Clay County. Hon. L. Bkame, Chancellor. Randle Dean, an insolvent, executed, on April 2, 1875, a deed of trust on land to secure a debt due H. H. Harrington, who, on May 2, 1877, transferred the note and trust-deed to Toomer, Sykes & Billups, by whom they were subsequently assigned to T. R. Ivy. The appellant, having recovered judgment against Harrington, Oct. 3, 1876, and levied execution, issued June 3,1878, purchased, at the sale, the land and all Harrington’s “ right, title, interest and claim at law and in equity,” under the deed of trust, and filed this…
1Opinion of the CourtCampbell, J.
The interest of the beneficiary in a deed of trust executed to secure a debt is not the subject of a judgment lien, and his assignee of the debt secured by the deed of trust takes the debt, which is the principal thing, and the security which is an incident, free from any such lien, and secure against the effort of the judgment creditor to reach it in his hands. A deed of trust to secure a debt is but a security — an incum-brance, and not an estate legal or equitable in the beneficiary, who may resort to the property conveyed as a means to the end of obtaining payment of the debt secured, but…
2Cited by5 opinions
- Adams v. Colonial & United States Mortgage Co.Mississippi Supreme Court · 1903
- Baker v. Connecticut General Life Ins.Mississippi Supreme Court · 1944
- Bank of Monticello v. L. D. Powell Co.Mississippi Supreme Court · 1930
- R. F. Walden & Co. v. YatesMississippi Supreme Court · 1916
- R. F. Walden & Co. v. YatesMississippi Supreme Court · 1916