Imperial Building & Loan Ass'n v. Aetna Insurance

Hatcher, President:

The defendant protests a judgment against it based on the standard mortgagee clause, upon the ground of “no insurable interest. ’ ’

Mrs. Joanne Melton was the owner of a town lot No. 7. Her husband erected a house for her on the adjoining lot, No. 6, to which she had no title, under the impression that the structure was on lot No. 7. The building was completed about April, 1926, and was insured for her with the defendant on April 3rd, for $2,000.00, against loss by fire. She executed a deed of trust on lot No. 7, dated July 1, 1926, to secure pay*63ment of $1,000.00 borrowed…