Commercial Loan & Building Ass'n v. Trevette
Illinois Supreme Court
Appeal from the Appellate Court for the First District;—heard in that court on appeal from the Circuit Court of Cook county; the Hon. Richard S. Tuthill, Judge, presiding. This was a bill to foreclose a deed of trust on land in the city of Chicago, given by I. B. Miller and H. J. Miller to one Julius Stern, to secure a loan of 515,000 from the appellant. The deed was dated March 22, 1893, and recorded on the 27th of the same month.
Read the full summary
Appeal from the Appellate Court for the First District;—heard in that court on appeal from the Circuit Court of Cook county; the Hon. Richard S. Tuthill, Judge, presiding. This was a bill to foreclose a deed of trust on land in the city of Chicago, given by I. B. Miller and H. J. Miller to one Julius Stern, to secure a loan of 515,000 from the appellant. The deed was dated March 22, 1893, and recorded on the 27th of the same month. The grantors in the deed were the owners of one hundred and fifty ¿hares of stock of the appellant association, by which they were enabled to borrow the sum of…
1Opinion of the CourtChief Justice Craig
This case presents a question as to the priority of liens. The recording of the deed of trust given by the Millers to appellant was constructive notice of the appellant’s rights under the same, and the dealings of the parties were such as to bring actual notice home to the appellees. The appellees held a contract with the owners of the mortgaged premises for the erection thereon of a building, except the third story, for which they were to receive from appellant the sum of $8000 as the work progressed. This amount appellant was willing to advance out of the loan, to the contractors, but the…
2Cases cited1 opinion
- Heidenbluth v. RudolphIllinois Supreme Court · 1894
3Cited by4 opinions
- Lydick v. GillNebraska Supreme Court · 1903
- In Re Danville Hotel Co.District Court, E.D. Illinois · 1929
- Shelton v. LentzMissouri Court of Appeals · 1915
- McGaffick v. LeiglandMontana Supreme Court · 1956