Townsend v. Wilson
Appellate Court of Illinois
Foreclosure. Error to the Circuit Court of Wayne county; the Hon. Jacob R. Creighton, Judge, presiding. Heard in this court at the Octoher term, 1909. Statement by the Court.
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Foreclosure. Error to the Circuit Court of Wayne county; the Hon. Jacob R. Creighton, Judge, presiding. Heard in this court at the Octoher term, 1909. Statement by the Court. On October 12,1905, plaintiff in error, Dick Townsend, purchased of the defendant in error, James N. Wilson, the premises described in the bill of foreclosure hereinafter referred to; and as a part of the purchase price, executed to said vendor his promissory note for $7,000, and to secure the same, executed a second mortgage to said Wilson upon said premises. April 16, 1906, said Townsend conveyed by warranty deed to…
1Opinion of the CourtJustice Duncan
There can be no question that rents and profits are the subject of mortgage. “The doctrine is understood to be that everything which may be considered as property, whether in the technical language of the law denominated real or personal property, may be the subject of mortgage, as advowsons, rectories, tithes. * * * Bents, also, and franchises may be made the subject of mortgage.” Supreme Court in Curtis v. Root, 20 Ill. p. 522, citing 1 Powell on Mort., 17, 18.
“Bents and profits are the subject of mortgage. Jones in his work on mortgages (Vol. 1, Sec. 140) says: “A mortgage may be made of…
2Cases cited4 opinions
- First National Bank v. Illinois Steel Co.Illinois Supreme Court · 1898
- Bagley v. Illinois Trust & Savings BankIllinois Supreme Court · 1902
- Oakford v. RobinsonAppellate Court of Illinois · 1892
- First National Bank of Joliet v. Illinois Steel Co.Appellate Court of Illinois · 1897
3Cited by12 opinions
- Title Guarantee & Trust Co. v. MonsonCalifornia Supreme Court · 1938
- Owsley v. NeevesAppellate Court of Illinois · 1913
- Frank v. SiegelAppellate Court of Illinois · 1931
- Mortgage Guarantee Co. v. LeeCalifornia Court of Appeal · 1943
- Straus v. BrackenAppellate Court of Illinois · 1926
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