Sager v. Breisach

Charles M. McDonald died testate on May 28,1937. Alice Marion McDonald was appointed as executrix of his estate. Among the assets thereof was a promissory note of $3,850 payable on demand and dated October 29, 1930, the maker thereof being Louis A. Breisaeh. This note was secured by a mortgage on certain real estate located in Maumee.

On June 17 or 18, 1937, on application of the executrix, the note and mortgage, with the approval of the Probate Court, were distributed in kind to Alice Marion McDonald, who for a valuable consideration “sold, assigned and transferred” them to Edith Sager. The…