Smith v. Smith

The executor contends that the agreement is invalid because it contravenes the general rule that a mortgagor cannot divest himself of his- equity of redemption by any provision in the mortgage or by any agreement collateral thereto. 3 Pom. Eq. Jur., s. 1193; 2 Washb. Real Prop., (6th ed.), s. 998; 1 Page, Con., s. 192; 24 A. L. R. 822; 19 R. C. L. 502.

On the other hand, the plaintiff claims that upon the execution of the contract he became, as between himself and the defendant, the real owner of the property subject to an informal mortgage for $300 in the defendant’s favor.

It is a sufficient…