Colby v. Himes

Plaintiffs, during the year 1924, by written contract, agreed to purchase from Lloyd A. Williams two lots in the city of Elma, which were then subject to a mortgage in favor of Aberdeen Savings & Loan Association, plaintiffs talcing possession of the property. From 1925 to 1930, plaintiffs resided in the state of Oregon, and the Bank of Elma collected for them the accruing rent, paying for necessary repairs and insurance and applying the balance on the mortgage, which, by March, 1930, was paid in full and satisfied of record. Prior to this time, plaintiffs had paid Mr. Williams all sums due…