Hartford Fire Ins. Co. v. Aaron

FOSTER, Justice.

This is an action on a policy of fire insurance extending from January 7, 1928, to January 7, 1930. The loss occurred on May 20, 1929. Prior'to the issuance of the policy, two mortgages had been executed on the property. Plaintiff owned the second in priority. On the 5th of March, 1929, plaintiff took, up the first mortgage, and on that day a “loss payable” clause was attached to the policy, payable to plaintiff as his interest may appear, subject to all the conditions of the policy, thereby distinguished from those clauses which exempt the rights of the mortgagee from…