Sanderson v. Engel

Dibell, J-.

Action to have a deed and contract for the conveyance of real estate adjudged a mortgage and the debt secured paid, and to adjudge the plaintiff the owner and the defendant to have no in terest therein. There was a judgment for the plaintiff, and the defendant appeals.

When land is pledged for the payment of a debt the transaction, in whatever form clothed, is a mortgage. The right of redemption cannot be waived or forfeited by an agreement made when the mortgage is created. The mortgage may be evidenced by an absolute deed, and parol evidence may be used in proof that it was a…