Cont'l Inv. & Loan Soc. v. Wood
| Decision Date | 01 November 1897 |
| Citation | 168 Ill. 421,48 N.E. 221 |
| Parties | CONTINENTAL INVESTMENT & LOAN SOC. v. WOOD. |
| Court | Illinois Supreme Court |
OPINION TEXT STARTS HERE
Error to appellate court, First district.
Bill by William F. Wood against the Continental Investment & Loan Society and others. There was a decree for plaintiff, which was affirmed by the appellate court (66 Ill. App. 491), and defendant company brings error. Affirmed.
Defrees, Brace & Ritter, for plaintiff in error.
Merrick, Evans & Whitney, (Daniel Evans, of counsel), for defendant in error.
Suit was commenced by William F. Wood, defendant in error, against plaintiff in error and others, to foreclose a mortgage, and determine the priority of the liens of the respective parties to the suit. Upon issue being joined, the cause was referred to the master in chancery, who, having heard the testimony, reported his finding and conclusion that the material allegations of the bill were true. Objections were filed to this report, which were overruled. The report was approved and confirmed, and decree entered accordingly. An appeal is taken from that decree. The trust deed to Wood provides that the grantor shall pay all costs and attorney's fees incurred by the holder of the secured notes in any suit in which they may be plaintiff or defendant, by reason of being a party to the trust deed or a holder of the notes, and that the same shall be a lien on the premises. The master found that there was $200 due for solicitor's fees, and the court found the whole amount due complainant, including the attorney's fee, to be $1,148.36. No objection was made to the master's finding as to the attorney's fee, nor to the allowance of the same by the court. From the bill and master's report it appears that Wood and wife executed a warranty deed to the mortgaged property to one Mary E. Hoof, February 1, 1892; but it was not acknowledged until May 12, 1893, nor recorded until June 7th following. Mary E. Hoof, together with her husband, George W. Hoof, made and executed two notes, aggregating $765.48, for the balance of the purchase price of the land, payable to Wood, to secure which they executed the mortgage in suit, dated February 1, 1892, acknowledged May 17, 1893, and recorded June 7, 1893. On the 1st of October, 1892, Hoof and wife executed a mortgage to secure an indebtedness to the Continental Investment & Loan Society, which was recorded October 17th following. They also executed a mortgage on June 15, 1893, to secure another indebtedness to this company, which was recorded the same day. The appellant claims priority lien under these two mortgages over that of Wood. Hoof was in possession of the property immediately after the 1st of February, 1892, the date of the deed...
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Olsen v. Heaver (In re Heaver)
...person is not notice to the vendor, because at the time the deed to the vendee had not been recorded.” Cont'l Inv. & Loan Soc'y v. Wood, 168 Ill. 421, 48 N.E. 221, 221–222 (1897). More recently, in Skidmore, Owings & Merrill v. Pathway Fin., the appellate court found that a mortgage recorde......
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Olsen v. Heaver (In re Heaver), Bankruptcy No. 09-B-73096
...third person is not notice to the vendor, because at the time the deed to the vendee had not been recorded." Cont'l Inv. & Loan Soc'v v. Wood, 48 N.E. 221, 221 -222 (Ill. 1897). More recently, in Skidmore. Owings & Merrill v. Pathway Fin., the appellate court found that a mortgage recorded ......
- Grand Lodge of Illinois, Independent Order of Mutual Aid v. Wieting
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Skidmore, Owings & Merrill v. Pathway Financial, 3-87-0750
...found in favor of the lienors who recorded their lien simultaneously with the warranty deed. See Continental Investment & Loan Society v. Wood (1897), 168 Ill. 421, 48 N.E. 221. In that case, the vendors, who took back a purchase money mortgage on the property, waited over 16 months to reco......