A Treatise on the Law of Mortgages and Deeds of Trust: Founded on the Laws and Judicial Decisions of the State of Illinois

Front Cover
Callaghan & Company, 1903 - 621 pages

From inside the book

Contents

Mortgage Distinguished from Assignment for Creditors
10
Conditional Sales Distinguished
11
Same Intention of Parties to Govern
12
Same Presumption from Face of Papers
13
Same Tests for Determining Character of Transaction
14
Same Existence of Debt or Loan
15
Same Previous Negotiations of the Parties
16
Same Inadequacy of Price
17
Same The Rule in Cases of Doubt
18
19 Absolute Deed with Separate Written Defeasance
19
Absolute Conveyance with Parol Defeasance
20
Same In Actions at
21
Grounds of Equitable Jurisdiction
22
Parol Evidence Admissible
23
Presumption and Burden of Proof
24
Quantum of Evidence Required
25
What Evidence Admissible
26
Same Declarations of Parties
27
Same As to Existence of Debt
28
Rights of Grantor 30 Loss or Relinquishment of Equity of Redemption
30
Rights of Creditors of Grantor
31
Rights of Purchaser from Grantee
32
EQUITABLE MORTGAGES 33 Equitable Mortgages in General 34 Mortgages Defectively Executed 35 Informal Writings Creating a Lien 36 Agree...
52
Vendors Lien 39 Deposit of Title Deeds
57
CHAPTER IV
59
Removal and Substitution of Trustees
66
Powers and Duties of Trustees
68
Provision for Solicitors
69
Release on Payment
70
Mortgages with Power of Sale
71
Erasures and Alterations
72
CHAPTER V
73
Mortgage of Corporate Franchises
74
Reformation of a Mortgage in Equity
75
Authority of Board of Directors
76
Equity Will Not Create New Contract
77
Mortgage made by Officers of Corporation
78
Intervening Rights of Third Persons
79
Cancellation of Mortgages
80
81 Execution of a Mortgage GAGES
81
Necessity of Acknowledgment
82
Who May Take Acknowledgment
83
Disqualification of Officer Taking Acknowledgment
84
Acknowledgment Taken in Another State
85
Requisites of Certificate
86
Impeaching Certificate of Acknowledgment
87
Damages for False Certificate
88
Leasehold Interests
106
Titles Under Executory Contract for Sale of Land
107
Undivided Interests in Land
108
Inchoate Title to Public Lands
109
Buildings Considered as Realty
110
111 Homestead Estate of Mortgagor
111
Same Release of Homestead
112
Same PurchaseMoney Mortgage
113
AfterAcquired Title
114
Delivery of a Mortgage
115
Constructive Delivery
116
CHAPTER VIII
117
Products of the Soil
118
Accretions
119
Rents and Profits
120
Mortgage of Both Realty and Personalty
121
122 Necessity of a Consideration
122
Sufficiency of Consideration
123
Effect of Description of Debt in the Mortgage
124
Future Advances
125
Mortgage by Surety or Guarantor
126
Indemnity Mortgages
127
Usury
128
Same Commissions of Broker or Agent
129
Same Interest on Overdue Interest
130
Same Stipulation for Attorneys Fee Taxes and Insurance
131
Same Contracts of Loan Associations
132
Same Conflict of Laws
133
Same Relief in Equity on Bill to Redeem
134
Same On Bill for Foreclosure
135
Right of Mortgagors Grantee to Plead Usury
136
Right of Junior Mortgagee to Allege Usury
137
CHAPTER XII
138
Preferences not Necessarily Fraudulent
139
Mortgagees Participation in Fraudulent Purpose
140
Proof of Fraud
141
Fraud or Deception Practised on Mortgagor
142
143 Same Undue Influence
143
Mortgages Obtained by Duress
144
Illegality of Consideration
145
Agreement to Stop Criminal Prosecution
146
Gambling Contracts
147
Conflict of Laws
148
149 Requisites of Record
149
Contents of Record Description of Property
150
Same Statement of Amount of Debt
151
Place of Record
152
Effect of Unrecorded Mortgage
153
Record as Constructive Notice
154
Effect of Destruction of Record
155
Registration Under Land Titles
156
157 Extent and Duration of Lien
157
Subsequent Conveyance Subject to Lien
158
Lien of Mortgage as Against Equities of Third Persons
159
Priority as Against Judgment Liens
160
Priority as Between Mortgage and Mechanics Lien
161
Priority as Fixed By Date of Record
162
Same Mortgages Filed the Same
163
Priority of Taxes and Other Statutory Liens
164
Who May Make Assignment
179
Capacity of Assignee
180
Consideration for Assignment
181
Mode of Making Assignment
182
Assignment of Debt Without Mortgage
183
Assignment of Mortgage Without Debt
184
Constructive and Equitable Assignments
185
Assignment of Trust Notes
186
Separate Assignment of Separate Notes
187
Same Order of Payment
188
Assignment as Collateral Security
189
Successive Assignments
190
What Passes by Assignment
191
Right of Assignee to Foreclose
192
Giving Notice to Mortgagor
193
Recording Assignment
194
Assignment Subject to Equities Between Original Parties
195
Same Estoppel of Mortgagor to Defend
196
Same Exceptions to General Rule
197
Same The Act of 1901
199
Same Latent Equities of Third Persons
200
Discharge or Release of Mortgage by Assignor
201
Guaranty of Notes and Mortgage Assigned
202
Application for Insurance Representations as to Incumbrance
203
Displacement of Mortgage Lien by Receivers Certificates
204
Postponement of Elder to Junior Lien
205
PurchaseMoney Mortgages
206
Insurable Interest of Mortgagor
207
Insurance by Mortgagor for his own Benefit
208
Lien of Unrecorded Mortgage
209
CHAPTER XV
210
Same Mortgagees Equitable Lien on Policy
211
Rights of Junior Mortgagee Paying Off Senior Mortgage
212
Doctrine of Tacking
213
Redemption from Elder Mortgage
214
Compelling Foreclosure of Senior Mortgage 176 Effect of Foreclosure of Senior Mortgage
215
219 Taxation of Mortgages
219
Not Invalid as Double Taxation
220
Situs of Mortgages for Purposes of Taxation
221
Same Case of State Tax on ForeignHeld Bonds
222
Same Mortgages Held by NonResidents
223
Same Mortgages in Hands of Local Agents
224
Assessment of Taxes on Mortgaged Lands
225
Relative Rank of Tax Lien and Mortgage Lien
226
Payment of Taxes by Mortgagor
227
Effect of Tax Clause in Mortgage
228
Payment of Taxes by Mortgagee
229
Tax Sale of Mortgaged Lands
230
Notice of Redemption from Tax Sale
231
Redemption or Purchase of Outstanding Tax Title
232
Suit to Set Aside Tax Sale
233
252 Sale of Equity of Redemption
252
Same Mortgage Not Recorded
253
Same Covenant Against Incumbrances
254
Sale of Land Subject to Existing Mortgage
255
Assumption of Mortgage by Purchaser
256
Same Deduction of Mortgage from Purchase Price
257
Same Estoppel to Dispute Mortgage
258
Same Personal Liability of Purchaser
259
Same Mortgagees Right of Action Against Purchaser
260
Same Liability of Purchaser by Mesne Conveyances
261
Release of Mortgagors Liability
262
Mortgagors Liability as Surety
263
CHAPTER XIX
285
Redemption by Heir Contribution by Widow
288
Dower in Surplus on Foreclosure
289
Widow of Mortgagee Not Dowable
290
CHAPTER XX
291
Same Intention of Parties
292
Same Interests of Parties
293
294 Who May Pay Mortgage Debt
294
To Whom Payment to be Made
295
Same Agent of Mortgagee
296
Medium of Payment
297
Substitution of Securities
298
Application of Payments
299
Evidence of Payment
300
Release of Deed of Trust
309
General Doctrine of Subrogation
310
Subrogation on Partial Payment
311
Who Entitled to Subrogation
312
Sale of Part of Mortgaged Land Order of Liability on Fore
313
Same Purchaser at Void Foreclosure Sale
314
Same Land Sold Successively in Parcels
315
Judicial Sale of Mortgaged Land
316
Partition of Mortgaged Estate
317
Laches Barring Right to Redeem
318
Constitutionality of Statutes Regarding Redemption
319
Condemnation of Mortgaged Land under Eminent Domain
320
What Constitutes Redemption
321
Dedication of Mortgaged Property to Public
322
CHAPTER XXII
323
Same Volunteer
324
Redemption by Stranger for Mortgagors Benefit
325
Amount Required for Redemption
326
Release of Part of Mortgaged Property
327
Successive Partial Releases on Payment by Installments
328
Effect of Release on Junior Liens
329
Renewal by Taking New Mortgage
330
Change or Substitution of Securities
331
Extension of Time of Payment
332
Same Mode of Effecting Redemption
333
CHAPTER XXIII
335
Same Decree Terms Costs
336
337 General Doctrine of Contribution
337
Intention of Parties as Qualifying Transaction 285 Consideration for Release of Equity
338
Form of Conveyance to Mortgagee
339
General Doctrine of Merger
340
As Between Junior Mortgagees
341
342 Rights and Duties of Mortgagee in Possession
342
Principles of Accounting
343
Charge for Rents and Profits
344
Allowance for Taxes and Insurance
345
Allowance for Repairs and Improvements
346
Discharge of Prior Incumbrances
347
CHAPTER XXVIII
348
Recovery of Possession
349
Rights as Against Lessee in Possession
350
Action at Law to Recover Debt
351
Choice of Methods of Foreclosure
352
353 Statutory Provisions
353
Process and Service
354
NonResident Defendant
355
Plaintiffs Right of Action
356
Parties
357
Pleading
358
Defenses
359
Judgment
360
Execution
361
362 Jurisdiction in General
362
Service of Process
363
NonResident Defendant
364
Property in Possession of Receiver
365
Conflicting Jurisdiction
366
Appellate Jurisdiction
367
Termination of Jurisdiction
368
369 The Right to Foreclose
369
Breach of Condition
370
Partial and Successive Foreclosures
371
Right to Anticipate Maturity of Debt
372
Same Notice of Mortgagees Election
373
Same Waiver of Forfeiture
374
Proceedings Against Estate of Deceased Mortgagor
375
376 Statutory Limitation as to Foreclosures
376
Action After Debt is Barred
377
Circumstances Arresting the Statute
378
Adverse Possession
379
Limitation in Case of Absolute Deed
380
381 General Rule as to Parties
381
Joint Mortgagees and Holders of Separate Notes
382
Mortgagees Successor in Interest
383
Representatives of Deceased Mortgagee
384
Assignee of Mortgage as Plaintiff
385
Trustee and Beneficiaries
386
Corporation and Stockholders
387
Subsequent Purchaser from Mortgagor
388
When Mortgagor not a Necessary Party
389
Tenants in Possession
390
Same The State as Tenant
391
Adverse Claimants
392
Assignee in Bankruptcy of Mortgagor
393
Wife of Mortgagor
394
Personal Representatives of Deceased Mortgagor
395
Heirs of Mortgagor
396
Junior Incumbrancers
397
Senior Incumbrancers
398
399 Requisites of Bill
399
Allegations as to Claims of Third Persons
400
Defendants Plea and Answer
401
CrossBills
402
Evidence in General
403
Proof of Debt
404
405 Defenses Available to Defendant
405
Defect or Failure of Title
406
SetOff
407
408 Grounds for Appointing Receiver
408
Where Mortgage Covers Rents and Profits
409
Appointing Receiver after Foreclosure Sale
410
Appointment on Application of Junior Mortgagee
411
Rights and Duties of Receiver
412
Discharge of Receiver
413
414 Decree of Strict Foreclosure
414
Same When not Proper
415
Same Cases Excepted by Statute
416
Frame of Decree of Strict Foreclosure
417
Decree of Foreclosure and Sale
418
Adjudication as to Amount
419
Terms as to Payment and Redemption
420
Personal Judgment not Proper
421
Validity and Effect of Decree
422
Review and Vacation of Decree
423
Conclusiveness of Decree
424
Lien of Decree
425
Decree for Deficiency
426
Same Jurisdiction
427
Same What Persons Liable
428
Formalities of Sale
429
Notice of Sale
430
Adjournment of Sale
431
Order of Sale
432
Sale in Separate Parcels
433
Setting Off Homestead
434
Who May Purchase
435
Combinations Among Bidders
436
Rights and Liabilities of Bidders
437
Report and Confirmation of Sale
438
439 Setting Aside Sale
439
Same Inadequacy of Price
440
Certificate of Purchase
441
442 Title Acquired by Purchaser
442
How Affected by Errors or Reversal of Decree
443
Rights of Purchaser Under Invalid Sale
444
Rule of Caveat Emptor
445
Possession Pending Redemption
446
Deed to Purchaser
447
Recovery of Possession Under Deed
448
Same Action of Forcible Detainer
449
Same Writ of Assistance
450
451 Taxation of Costs
451
Allowance of Attorneys Fees
452
Effect of Defects or Irregularities
478
Deed to Purchaser
479
91 Married Women
504
Stipulation in Mortgage for Attorneys Fees
522
What is a Reasonable
524
Bill Must Pray Allowance of Fees
525
Allowance of Fees to Other Incumbrancers Made Parties 457 Attorneys Fee on Foreclosure of Trust Deed
526
DISTRIBUTION OF PROCEEDS 458 Application of Proceeds to Mortgage Debt 459 Same Mortgage Notes Held by Different Persons 460 Right to ...
527
CHAPTER XXXI
531
Same Delegation of Authority
534
Same Power of Sale in Mortgage
535
The Power to Sell
537
Notice of Sale
539
Time and Place of Sale
542
Presence of Trustee at Sale 471 Conduct of the Sale
543
Order of Sale
545
Terms of Sale
546
Adjournment of Sale
547
Who May Purchase
548
Same Laches Barring Relief
559
Costs and Expenses 485 Disposition of Surplus
560
CHAPTER XXXII
562
Same Assignment for Creditors Under State Law 488 Jurisdiction Depending on Diverse Citizenship
563
Same Suit by Assignee
566
Jurisdiction Independent of State Statutes 491 Procedure Conforming to State Practice
568
Allowing Redemption
569
Decree for Deficiency 494 Attorneys Fees
571
Writ of Assistance to Purchaser 496 Decree not Reviewed or Vacated by State Courts
572
Defense of Ultra Vires and Invalidity 55 Mortgages by Railroad Companies 56 Religious Corporations
582
Loan Associations 58 Municipal Corporations 59 Consolidated Corporations
583
Formal Requisites of a Mortgage 61 Description of Parties
586
Nature of Mortgagees Title
588
Description of Property Mortgaged 63 Statement of Debt Secured 64 Anticipation of Time of Payment 65 Covenant for Payment of Debt 66 Habend...
592
Marshalling Securities
598
Restraining Commission of Waste 248 Remedy for Impairment of Security 249 Rights of Mortgagee in Possession 250 Right to Rents and Profits 251...
600
Infants 93 Guardians 94 Lunatics and Spendthrifts 95 Executors and Administrators
603
Partners 97 Agents and Attorneys 98 Trustees 99 Receivers 100 Joint Mortgagors and Joint Mortgagees 101 Foreign Corporations as Mortgagees 102...
604
Purchase by Mortgagee at his own Sale 477 Effect of Sale Under Power
617
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Page 141 - The intention of the party making the annexation, to make the article a permanent accession to the freehold — this intention being inferred from the nature of the article affixed, the relation and situation of the party making the annexation, the structure and mode of annexation, and the purpose or use for which the annexation has been made.
Page 563 - ... nor shall any Circuit or District Court have cognizance of any suit except upon foreign bills of exchange, to recover the contents of any promissory note or other chose in action in favor of any assignee, or of any subsequent holder if such instrument be payable to bearer and be not made by any corporation, unless such suit might have been prosecuted in such Court to recover the said contents if no assignment or transfer had been made...
Page 132 - That no lands acquired under the provisions of this act shall in any event become liable to the satisfaction of any debt or debts contracted prior to the issuing of the patent therefor.
Page 262 - If, with the consent of this company, an interest under this policy shall exist in favor of a mortgagee or of any person or corporation having an interest in the subject of insurance other than the interest of the insured as described herein, the conditions hereinbefore contained shall apply in the manner expressed in such provisions and conditions of insurance relating to such interest as shall be written upon, attached, or appended hereto.
Page 34 - The rule which excludes parol testimony to contradict or vary a written instrument has reference to the language used by the parties. That cannot be qualified or varied from its natural import, but must speak for itself. The rule does not forbid an inquiry into the object of the parties in executing and receiving the instrument.
Page 186 - Claims which for want of record or for other reasons would not have been valid liens as against the claims of the creditors of the bankrupt shall not be liens against his estate.
Page 21 - To deny the power of two individuals, capable of acting for themselves, to make a contract for the purchase and sale of lands defeasible by the payment of money at a future day, or, in other words, to make a sale with a reservation to the vendor of a right to repurchase the same land at a fixed price and at a specified time, would be to transfer to the Court of Chancery, in a considerable degree, the guardianship of adults as well as of infants. Such contracts are certainly not prohibited either...
Page 281 - A widow shall be endowed of the third part of all the lands whereof her husband was seized of an estate of inheritance at any time during the marriage, unless she shall have lawfully released her right thereto.
Page 131 - ... he has not, directly or indirectly, made any agreement or contract, in any way or manner, with any person or persons whatsoever, by which the title which he might acquire from the government of the United States should inure, in whole or in part, to the benefit of any person except himself...
Page 307 - that where one person makes a promise to another for the benefit of a third person, that third person may maintain an action upon it.

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