Nelson v. National Life & Accident Insurance

1. Where the grantee of property under a mortgage assumes and agrees with the mortgagor to pay the mortgage, he becomes, as to the mortgagor with whom he thus contracts, the principal debtor, with the result that the- mortgagor thereafter occupies the position of surety. The mortgagee, however, is not bound by such an agreement unless he himself assents to such express assumption. Stapler v. Anderson, 177 Ga. 434-436 (170 S. E. 498); Burgess v. Ohio National Life Ins. Co., 48 Ga. App. 260 (172 S. E. 676). Where the mortgagee has in fact assented to such an assumption by the grantee, and thus-…