Maryland Reports; Cases Adjudged in the Court of Appeals of Maryland Volume 42

Maryland Reports; Cases Adjudged in the Court of Appeals of Maryland Volume 42

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1876 edition. Excerpt: ...the complainants under Howard's deed of July 30th, 1853, a leasehold estate in the property, subject to the encumbrances of Dobbin's mortgage for $7738.54. This mortgage was held by George W. Dobbin, Esq., as trustee appointed by a Court of Chancery, and represented funds held by him as trustee for Mrs. Tyson for life, remainder to her husband Dr. Tyson, for life, if he should survive her, and aft-er the death of them, remainder to the heirs of his body; with a limitation over upon certain contingencies, to the right heirs of Mrs. Mary " Tyson, from whom the same was derived. By the order of the Chancery Court, Dobbin the trustee, was authorized to release the mortgage held by him on the Lombard Street property, and take in lieu thereof a mortgage for the same amount of certain: property on Hanover Street, which was held by trustees to the same uses and trusts last above mentioned. The object of this arrangement was to obtain the money required to complete certain improvements on the Hanover Street property then in progress. This money was obtained from Mr. Latrobe, and was secured by the mortgage now in question. The simple "effect of this transaction was that the money used to satisfy Dobbin's mortgage, to the amount of$7500, was borrowed from Mr. Latrobe, and the mortgage to him for that amount was placed upon the Lombard Street property, instead of the mortgage before held by Dobbin to the amount of $7738.54. Thus lessening the encumbrance upon the last named property by the sum of $238.54. It seems to me that the argument of the appellants' counsel, that "their property has been by this proceeding subjected to an additional encumbrance," is altogether erroneous. The error proceeds more

Product details

  • Paperback | 226 pages
  • 189 x 246 x 12mm | 413g
  • United States
  • English
  • black & white illustrations
  • 1236822269
  • 9781236822260