H. D. Dean v. The Pioneer Co-Operative Fire Insurance Company

BROWN, Circuit Judge.

The question is whether a vendor of property whose purchaser is then in substantial default acquires the full insurance specified under a Texas Standard Fire Policy issued to him as owner by an underwriter who is fully informed on the status of title, the sale, and default.

Dean owned the land and the frame buildings involved. On July 2, 1952, by formal deed, he conveyed the property to Lowe, expressly reserving a vendor’s lien to secure payment of the remainder ($1442.50) of the purchase price ($1500.00) due in monthly installments of $75.00. Simultaneously, Lowe executed…