Home Owners' Loan Corp. v. Reese

On March 14, 1934, the Home Owners’ Loan Corporation, hereinafter referred to as the plaintiff, granted a loan of $3,522.40 to Hazel E. Porter and Ryland M. Porter, her husband. The loan was evidenced by a negotiable, promissory note of even date therewith, made by the borrowers. It was secured by a deed of trust on real property, duly recorded. Both the note and the deed of trust waived the benefit of the homestead exemptions of the makers as to the said indebtedness.

On January 30,1935, the Porters conveyed the same property by a deed of bargain and sale to the defendant, Warren R. Reese,…