(Download) "Hastings Et Al. v. Wise Et Al." by Supreme Court of Montana " eBook PDF Kindle ePub Free

August 13, 2021

eBook details

Title: Hastings Et Al. v. Wise Et Al.
Author : Supreme Court of Montana
Release Date : January 13, 1932
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 61 KB

Description

Mortgages ? Real Property ? Methods of Renewal or Extension ? "Subsequent Purchaser" ? Effect of Recordation of Mortgage Extension Agreement Over Deed of Prior Purchaser Later Recorded. Mortgages ? Real Property ? Methods of Renewal or Extension. 1. A real estate mortgage may be renewed or extended, not only in the mode prescribed by section 8267, Revised Codes of 1921, but also under the provisions of section 8264, i.e., by a writing executed with the formalities required in the case of a grant of real property. Same ? Extension a "Conveyance." 2. A real estate mortgage extension agreement executed as provided by section 8264, Revised Codes of 1921, is a "conveyance" within the meaning of section 6938, Revised Codes of 1921. Same ? Who not "Subsequent Purchaser" Under Recording Statutes. 3. Obiter: One who takes a deed to real property subject to valid and existing mortgages thereon is not a "subsequent purchaser" within the meaning of the recording statutes. Same ? When Subsequent Purchaser Entitled to Protection Against Prior Conveyances. 4. To entitle a subsequent purchaser of real property to protection against prior conveyances under section 6935, he must not only have purchased for a valuable consideration, but his conveyance must have been first duly recorded. Same ? Circumstances Under Which Mortgage Extension Agreement Recorded Prior to Recordation of Deed to Property Held Superior to Right of Subsequent Purchaser. 5. A real estate mortgage extension agreement executed under section 8264, Revised Codes of 1921, before maturity of the last of a series of mortgage notes, was not recorded until after the period of extension had expired. Two years prior thereto the property had been conveyed to another, subject to the mortgage, the deed, however, not being recorded until some six weeks after recordation of the agreement. Held, in an action for foreclosure of the mortgage that the extension agreement, having been valid and first placed of record, took priority over the deed, under section 6935, Revised Codes of 1921, even assuming that the vendee was a subsequent purchaser in good faith and for a valuable consideration. - Page 431