Commercial & Sav. Bank v. Corbett
U.S. Circuit Court for the District of Nevada
Suit [by the Commercial & Savings Bank of San Jose] to foreclose a mortgage. Two of the defendants, Daniel G. and Wm. H. Corbett, are brothers, and have been general partners since the year 1860. The property ■covered by the mortgage was bought with partnership funds and held as partnership property. Block 56, the premises in dispute, has for several years been the residence of both partners and their wives and children.
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Suit [by the Commercial & Savings Bank of San Jose] to foreclose a mortgage. Two of the defendants, Daniel G. and Wm. H. Corbett, are brothers, and have been general partners since the year 1860. The property ■covered by the mortgage was bought with partnership funds and held as partnership property. Block 56, the premises in dispute, has for several years been the residence of both partners and their wives and children. In August, 1S76, a fire burnt down the “Cor-bett House situated on this block, and after-wards in October of the same year the complainant loaned twenty thousand dollars to…
1Opinion of the Court
HILLYER, District Judge.
The first question regards the nature of the title as bearing on the homestead right. There is no doubt, on principle, a marked difference between lands held by'partners and devoted to partnership use in such manner that it is partnership property, applicable to the payment of the joint debts in equity, at the instance of either partner, and lands held by such partners simply as tenants in common, to which no such equitable right of the partners attaches. When real estate is so situated that a court of equity regards it as a trust estate for the joint creditors, the…
2Cases cited6 opinions
- Estate of WalleyNevada Supreme Court · 1876
- Hawthorne v. SmithNevada Supreme Court · 1867
- Smith ex rel. Smith v. ShrievesNevada Supreme Court · 1878
- Smith v. StewartNevada Supreme Court · 1878
- Terry v. BerryNevada Supreme Court · 1878
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Porch v. PattersonNevada Supreme Court · 1916