(DOWNLOAD) "Angus v. Mariner Et Al." by Supreme Court of Montana ~ Book PDF Kindle ePub Free
eBook details
- Title: Angus v. Mariner Et Al.
- Author : Supreme Court of Montana
- Release Date : January 29, 1929
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 60 KB
Description
Mortgages on Realty ? Foreclosure ? Taking Second Mortgage With Knowledge of Prior, Though Unrecorded Mortgage ? First Mortgage Superior ? Mortgage a Conveyance ? Dower. Mortgage on Real Property, a Conveyance. 1. A mortgage on real property is a conveyance within the meaning of the Recording Acts. Same ? Foreclosure ? Failure of Acknowledgment by Wife ? Defense Personal to Wife. 2. The defense to a suit to foreclose a mortgage on realty that the instrument had not been acknowledged by the wife of the mortgagor is a privilege personal to the wife, which she may waive; it may not be interposed by another for her where her dower right is not in question. Same ? Party Taking Second Mortgage With Knowledge of Prior, Though Unrecorded, One, Does not Gain Priority Over First. 3. One who takes a mortgage upon property with actual knowledge of an earlier, though unrecorded, one, takes it subject thereto and will not be permitted, by placing his mortgage first on record, to gain priority over the earlier lien, even though the prior instrument is imperfect in itself or is defectively executed. Same ? Case at Bar. 4. Under the last above rule, held in an action to foreclose a second mortgage on real property and to have it declared superior - Page 366 to a prior one, unrecorded at the time plaintiff placed his mortgage of record, that plaintiff having been advised by language in his mortgage to the effect that it was "subject to a first mortgage heretofore made" on the property, he had actual notice of the prior lien; that he was chargeable with notice of all material facts which an inquiry suggested by the recital would have disclosed, and that with such notice he proceeded at his peril, even though the former instrument was not yet acknowledged or could be considered imperfect when he placed his mortgage on record.
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