Pan-American Life Insurance v. Orr

Suit was brought upon promissory notes secured by a deed to real estate. Pending the action, the property was sold under a power of sale, and purchased by the plaintiff grantee, and the defendant, by an amendment to his'answer, sought to recover the surplus of the proceeds after deducting principal, interest, and costs. The case was tried without a jury, under an agreed statement of facts. The one legal question presented was whether the plaintiff was entitled to retain the additional amount represented by taxes, which had been assessed prior to the sale, but were not paid by the plaintiff…