Allen v. Waddle

*691The opinion of the court was delivered by

Mason, J.:

In an action upon a negotiable note and real-estate mortgage securing it, the trial court held that the defendant (the mortgagor) was entitled to credit for payments made to and retained by the mortgagees after the note and mortgage had been assigned, because of the assignment not having been recorded. The plaintiff (the assignee) appeals from this ruling.

1. The defendant invokes the statute reading:

“In cases where assignments of real-estate mortgages are made after the passage of this act, if such assignments are not recorded, the mortgagor,…