Petz v. Gaines

Prior to June 24,1929, plaintiffs were the owners in fee of certain real estate located in the city of Detroit. On July 3, 1929, Claude B. Gaines and wife became the owners of the vendees ’ interest in a certain land contract for the sale of said premises. At the time of the purchase of said land contract by Gaines and wife, there was a balance owing under said contract of $18,638.21. On June 24,1929, and prior to the time that Gaines and wife became the owners of the vendees ’ interest in said land contract, the plaintiffs executed and delivered a mortgage on said premises to the Detroit…