Loewenstein v. Queen Insurance
Supreme Court of Missouri
Appeal from St. Louis County Circuit Court. — Now. John W. McElhinney, Judge. (1) Where the owner of mortgaged property at his own expense insures his property for the joint benefit of himself and the holder of the mortgage, and the property is destroyed while the policy is in force and effect as to the interest of both mortgagor and mortgagee, and the insurance is paid to the mortgagee, equity will not subrogate the insurance company to the rights of the holder of the…
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Appeal from St. Louis County Circuit Court. — Now. John W. McElhinney, Judge. (1) Where the owner of mortgaged property at his own expense insures his property for the joint benefit of himself and the holder of the mortgage, and the property is destroyed while the policy is in force and effect as to the interest of both mortgagor and mortgagee, and the insurance is paid to the mortgagee, equity will not subrogate the insurance company to the rights of the holder of the mortgage. Sheldon on Subrogation, sec. 236, p. 353; 19 Cyc. 893; 2 May on Ins., sec. 450, p. 1070'; Ins. Co. v. Race, 142…
1Opinion of the CourtValliant, C. J.
This is a suit in equity wherein the plaintiff seeks to cancel a mortgage or deed of trust held by the defendants, the insurance companies, on the ground that the debt secured thereby has been paid. The defendants by their answer and crossbill deny that the debt has been paid and assert that they purchased the same, that they are the owners thereof 'and they pray a foreclosure. The trial resulted in a decree dismissing the plaintiff’s bill and foreclosing 'the mortgage as prayed in defendants’ crossbill. From that judgment the plaintiff has brought this appeal.
The following facts of the case…
2Cases cited14 opinions
- State ex rel. Haeussler v. Court of AppealsSupreme Court of Missouri · 1877
- Traders' Insurance v. RaceIllinois Supreme Court · 1892
- Allen v. Watertown Fire InsuranceMassachusetts Supreme Judicial Court · 1882
- Klingelhoefer v. SmithMissouri Court of Appeals · 1903
- Brannock v. MagoonSupreme Court of Missouri · 1909
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3Cited by50 opinions
- Nettleton Bank v. Estate of McGauheySupreme Court of Missouri · 1928
- Hawkinson v. JohnstonCourt of Appeals for the Eighth Circuit · 1941
- Walker v. Queen Insurance Co.Supreme Court of South Carolina · 1926
- Welborn v. Southern Equipment CompanySupreme Court of Missouri · 1965
- Borserine v. Maryland Casualty Co.Court of Appeals for the Eighth Circuit · 1940
45 more not listed; retrieve them via the Exa API.