Grimes v. Evans, 5-801
| Decision Date | 09 January 1956 |
| Docket Number | No. 5-801,5-801 |
| Citation | 285 S.W.2d 510,225 Ark. 770 |
| Parties | Eddie Williams GRIMES et al., Appellants, v. Mrs. J. B. EVANS, Appellee. |
| Court | Arkansas Supreme Court |
R. H. Peace, El Dorado, for appellants.
Claude E. Love, El Dorado, for appellee.
The appellants prosecute this appeal from a decree of the Union Chancery Court, Second Division, which refused to declare certain deeds, absolute in form, to be mortgages and also refused to decalre certain tracts of real estate to be held in trust by appellee for appellants.
The undisputed facts reveal that Hope Traylor, the father of appellants, purchased the south 92 feet of Lot 4, Block 1 of Simpson Addition to the City of El Dorado, Arkansas, from S. R. Morgan in 1925. On June 5, 1928, Hope Traylor obtained a loan in the amount of $500 from B. Davis. In consideration for this loan, Traylor entered into an agreement with Davis, whereby, repayment of the loan would be made at the rate of $10 monthly, until the indebtedness was liquidated. As security for this loan, Davis required Traylor to execute and deliver to him, a mortgage on the above described property. Hope Traylor died, thereafter, without fully satisfying the amount of his indebtedness to Davis. On February 26, 1934, Davis filed a suit to foreclose the mortgage on the property, and shortly thereafter, the chancery court ordered the property to be sold on June 1, 1934, to satisfy the amount of the outstanding indebtedness on the mortgage. B. Davis submitted the highest bid for said property, whereby, the property was sold to him and a commissioner's deed was issued to him on June 11, 1934. The deed was recorded on June 12, 1934.
In order that Myra Traylor might save the homestead, B. Davis entered into a contract with Myra Traylor on September 17, 1935, whereby, she would pay him the sum of $400 for said property, of which $10 was paid in cash and a series of 39 notes were executed for the balance of $390, payable $10 monthly until the debt was liquidated. On the same date, B. Davis executed to Myra Traylor a sales contract or bond for title, binding himself to convey said property to her, upon payment of the above descibed indebtedness. Myra Traylor died in 1937, without fully satisfying the amount of the indebtedness.
On August 12, 1939, B. Davis conveyed the above mentioned lands by warranty deed to J. B. Evans, in consideration for the sum of $300. On the previsous day, August 12, 1939, the appellants herein, who were the occupants of the premises, executed a quitclaim deed to J. B. Evans relinquishing any interest that they might have in the property. The appellants continued to occupy the premises and made monthly payments of $10 each to J. B. Evans, until his death in 1949. Thereafter, the appellants made these monthly payments to Mrs. J. B. Evans, who was the sole beneficiary under J. B. Evans' will, until October of 1952, at which time Mrs. Evans served notice upon appellants to vacate the premises.
The appellants filed the instant suit on November 13, 1954, claiming that J. B. Evans was holding the above described property in trust for them and they were entitled to have title declared in them; that the deeds executed by them in 1939 were given as a mortgage to secure a debt of $300, which debt has been fully satisfied. Upon trial of this cause, the chancellor dismissed the appellants' complaint for want of equity and quieted and confirmed title to the property in the appellee. On the appellee's cross-complaint, the chancellor found that appellants were tenants at will of appellee, whereby, judgment in the sum of $260 was awarded appellee, such amount representing 26 months rent owed by appellants. This appeal follows.
According to the testimony of the appellants, they entered into an oral contract with J. B. Evans, whereby, Evans loaned the appellants the sum of $300, with which to pay off an indebtedness on the property to B. Davis, in return for appellants' promise to repay this amount in monthly installments of $10 each, with 10% interest until debt was liquidated. Appellants insist that J. B. Evans required them to execute to him a quitclaim deed to the property hereinabove described, said deed being dated ...
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Mothner v. Ozark Real Estate Company
...a mortgage. 300 S.W.2d at p. 936. Also see and compare Lawless v. Caddo River Lumber Co., 145 Ark. 132, 223 S.W. 395; Grimes v. Evans, 225 Ark. 770, 285 S.W.2d 510, 512. It is also now settled in Arkansas that the question of whether the word "mineral" as used in a deed included "oil and ga......
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Irby v. Irby, 5-1036
...is, in fact, a mortgage, the evidence must be clear, cogent and convincing. Burns v. Fielder, 197 Ark. 85, 122 S.W.2d 160; Grimes v. Evans, Ark., 285 S.W.2d 510. Walter contends that in 1923, when the debt to the bank in the sum of $2,260.62 became due, the property was worth more than the ......
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Nelson v. Nelson
...transaction was intended as a mortgage and this proof must be such as to satisfy a reasonable mind without hesitation. Grimes v. Evans, 225 Ark. 770, 285 S.W.2d 510 (1956); Ehrlich v. Castleberry, 227 Ark. 426, 299 S.W.2d 38 (1957); and Dixon v. Dixon, 210 Ark. 647, 197 S.W.2d 43 (1946). Wh......