Coleman v. Banks

WILLIAMS, Justice.

A. Y. Banks and wife Ernestine Banks were divorced on May 26, 1946. At the time of their divorce they were the.owners of certain real estate located at 4076 Stanford Street, City of University Park, which had been their homestead, and which was encumbered by a mortgage in favor of California-Western States Life Insurance Company. They were also the parents of one minor child. Prior to the divorce on May 24, 1946, the parties had entered into a written agreement which provided, inter alia, that A. Y. Banks agreed to pay off the mortgage on the property in question, payments…