Jordon v. Cheney
Supreme Judicial Court of Maine
Bill in equity. Heard on bill, answer and proof. The bill was brought by the administrator of Ebenezer Jordan, deceased, against Charles J. Cheney, Henry W. Oakes, assignee in insolvency of Charles P. Jordan, Junior, and John-Smith, and after stating the facts, the material parts of which are disclosed by the opinion, (Charles P. Jordan, Junior, was the mortgagee, who transferred and delivered the mortgage notes to the complainant, and John Smith was the mortgagor in the…
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Bill in equity. Heard on bill, answer and proof. The bill was brought by the administrator of Ebenezer Jordan, deceased, against Charles J. Cheney, Henry W. Oakes, assignee in insolvency of Charles P. Jordan, Junior, and John-Smith, and after stating the facts, the material parts of which are disclosed by the opinion, (Charles P. Jordan, Junior, was the mortgagee, who transferred and delivered the mortgage notes to the complainant, and John Smith was the mortgagor in the last mortgage which was assigned to Cheney,) the complainant prayed " that said mortgage so held by said complainant in his…
1Opinion of the CourtWalton, J.
One who takes a mortgagee’s title holds it in trust for the owner of the debt to secure which the mortgage was given. If a mortgage is given to secure negotiable promissory notes, and the notes are transferred, the mortgagee and all claiming under him will hold the mortgaged property in trust for the holder of the notes. To secure this result it is not necessary that there should be any recorded transfer of the notes or mortgage. Nor is an assignment of the mortgage necessary. If the mortgage is duly recorded, the record is notice to all the world of the character of the mortgagee’s title;…
2Cited by13 opinions
- Mortgage Electronic Registration Systems, Inc. v. SaundersSupreme Judicial Court of Maine · 2010
- Bank Commissioners v. Security Trust Co.Supreme Court of New Hampshire · 1900
- Gemini Services, Inc. v. Mortgage Electronic Registration Systems, Inc. (In Re Gemini Services, Inc.)United States Bankruptcy Court, S.D. Ohio · 2006
- Chase National Bank v. HastingsWashington Supreme Court · 1898
- Beal Bank USA v. New Century Mortgage CorporationSupreme Judicial Court of Maine · 2019
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