Commercial Merchants Nat. Bank & Trust Co. v. Le Tourneau

I agree with everything the majority has said, except that I cannot escape the conviction that under the Illinois authorities a merger was effected.

In Illinois, every deed under which the grantor reserves, either by parol or express provision, a right to redeem, i.e., an equity of redemption, is a mortgage. Illinois Revised Stat.Chap. 95, Sec. 13 provides that “every deed conveying real estate, which shall appear to have been intended only as a security in the nature of a mortgage, though it be an absolute conveyance in terms, shall be considered as a mortgage.” This includes every conveyance…