Greene v. Deal
New York Supreme Court
Two bonds and mortgages of the same date were' executed upon the same property for the purchase-money. One was given to Henry Deal, the other to Mary G. Greene, and each was expressed to be for a part of the purchase-money of the premises. It was intended by the parties that the mortgages should be equal as to priority. They were recorded on the same day; but the former was recorded at a later time than the latter.
Read the full summary
Two bonds and mortgages of the same date were' executed upon the same property for the purchase-money. One was given to Henry Deal, the other to Mary G. Greene, and each was expressed to be for a part of the purchase-money of the premises. It was intended by the parties that the mortgages should be equal as to priority. They were recorded on the same day; but the former was recorded at a later time than the latter. The mortgagee in the latter mortgage, Mary 0. Greene, subsequently, but after the recording of the former mortgage, assigned her mortgage to Elijah P. Greene, and he subsequently…
1Opinion of the Court
Learned, P. J.:
The question in this case is whether a purchaser in good faith, without notice and for a valuable consideration, of a recorded mortgage, is bound by a verbal agreement between the mortgagee therein and the mortgagee in another mortgage recorded at a later date, on the same premises, that the .two should be equal in priority; such agreement having been made at the time of the execution of the mortgages. There was nothing in the mortgage itself) held by Warnick, to give him notice that there was another mortgage on the same premises, of equal priority. The fact that it was…
2Cases cited8 opinions
- Bush v. . LathropNew York Court of Appeals · 1860
- Murray v. LylburnNew York Court of Chancery · 1817
- Schafer v. . ReillyNew York Court of Appeals · 1872
- Jackson ex dem. Merrick v. PostNew York Supreme Court · 1836
- Fort v. BurchNew York Supreme Court · 1848
3 more not listed; retrieve them via the Exa API.