Lutz v. . Hoyle
Supreme Court of North Carolina
Appeal by plaintiff from Harding, J., at July Term, 1914, of Lisr-COLN. Civil action, brought by plaintiffs to declare a parol trust, plaintiffs alleging that tbe defendant L. W. Hoyle took tbe legal title to a certain tract of land under contract to bold it in trust for tbe plaintiffs, and tbat said L. W. Hoyle, at or before tbe time be took tbe legal title, contracted to bid it in at tbe sale under a mortgage or deed of trust, and to convey tbe land in controversy to tbe…
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Appeal by plaintiff from Harding, J., at July Term, 1914, of Lisr-COLN. Civil action, brought by plaintiffs to declare a parol trust, plaintiffs alleging that tbe defendant L. W. Hoyle took tbe legal title to a certain tract of land under contract to bold it in trust for tbe plaintiffs, and tbat said L. W. Hoyle, at or before tbe time be took tbe legal title, contracted to bid it in at tbe sale under a mortgage or deed of trust, and to convey tbe land in controversy to tbe plaintiffs at tbe end of three years upon their paying him tbe sum of $3¡000 and executing to biín a mortgage on said…
1Opinion of the CourtAlleN, J.
If a declaration bad been incorporated in tbe deed executed to tbe defendant tbat be held tbe title to the land in trust to secure tbe payment of $6,000 and interest, $3,000 to be paid in three years and $3-,000 thereafter, and then in trust for tbe plaintiffs, it could not be contended tbat tbe defendant has an absolute and indefeasible title, although tbe plaintiffs may not have been ready, willing, and able to pay.
Such a conveyance would have vested in tbe plaintiffs an equitable estate, an equity of redemption, which could not be foreclosed, in tbe absence of a power of sale, without tbe…
2Cases cited9 opinions
- Avery v. StewartSupreme Court of North Carolina · 1904
- Bateman v. . HopkinsSupreme Court of North Carolina · 1911
- Sykes v. Boone.Supreme Court of North Carolina · 1903
- Shelton v. . SheltonSupreme Court of North Carolina · 1859
- Porter v. White.Supreme Court of North Carolina · 1901
4 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Perry v. Southern Surety Co.Supreme Court of North Carolina · 1925
- Carlisle v. . CarlisleSupreme Court of North Carolina · 1945
- Hare v. . WeilSupreme Court of North Carolina · 1938
- Wolfe v. North Carolina Joint Stock Land BankSupreme Court of North Carolina · 1941
- Greensboro Bank & Trust Co. v. ScottSupreme Court of North Carolina · 1922
2 more not listed; retrieve them via the Exa API.