Leonard v. Wayne Circuit Judge

Leonard borrowed from Stephens $40,-000 upon two pieces of real property, which, for convenience, we will call “Gratiot” and “Eliot,” respectively, from the streets upon which they were located. The legal title to these parcels was never vested in Leonard, being placed in the lender, Stephens, as security for the $40,000, at Leonard’s request, by -the persons whose contracts Leonard held. Stephens commenced the foreclosure of his mortgage in February, 1898, taking a decree of the circuit court on February 27,1899, which was affirmed on December 2, 1899. Stephens v. Leonard, 122 Mich. 125 (80…