Floyd County Board of Education v. Johnson

STANLEY, Commissioner.

The judgment is that a deed was in fact executed to secure a debt, hence is to be regarded in equity as a mortgage; the Floyd County Board of Education as remote vendee was not an innocent purchaser; Lee Johnson and his son Russell are estopped from denying the conveyance, but another son, Robert, is not estopped and is entitled to recover $1,750, which is the equivalent of one-fourth of the sum paid by the Board for the property. The Board and Russell bring appeals from the judgment adverse to their claims.

Lee Johnson and his wife, Anna, the joint owners of a certain…