Levy v. Spitz

Opinion by

Mr. Justice Sadler,

John Spitz, the owner of certain real estate in the City of Philadelphia, mortgaged the same on September 24, 1925, to Max Levy for $350,000. Both bond and mortgage were entered the same day, and at once assigned of record to the Pennsylvania Company for Insurances on Lives & Granting Annuities. In each instrument it was provided that in case of default the property could be sold on a writ of fl. fa., and the obligor expressly waived the right of inquisition on behalf of himself, “his executors, administrators and assigns.” On the 25th, the land was deeded to the…