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eBook details

• Title: North Easton Co-Op. Bank v. Maclean Et Al.
• Author : Supreme Court of Minnesota
• Release Date : January 26, 1938
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 75 KB

Description

DOLAN, Justice. This is a bill in equity in which the plaintiff prays that the defendant trustees, under an indenture of trust for the Randolph Associates, be ordered to discharge their mortgage from the defendant MacLean on certain real estate in the town of Easton, and to receive in place thereof a second mortgage on the same premises junior to the mortgage of the plaintiff, and for such further and other relief as may seem just and meet in the premises. The defendant Julia F. Lynch filed a disclaimer of interest and prayed that the bill be dismissed as to her, with costs. The defendant trustees before referred to, the defendant Randolph Trust Company and the defendant Edward B. Hayward appeared and answered. The bill was taken as confessed against the defendant MacLean. After hearing a final decree was entered on June 24, 1937, That the mortgage given by the Respondent Charles MacLean to the North Easton Co-operative Bank, dated August 3rd, 1928, and recorded with Bristol County Northern District Registry of Deeds in book 786, page 178, was discharged by mistake, and the discharge of said mortgage, which is dated May 19th, 1930, and recorded with Bristol County Northern District Registry of Deeds in Book 799, page 567, is hereby declared to be null and void, and said mortgage is hereby declared to be a first mortgage upon the premises therein described and to be in full force and effect in the principal sum of $5566.50, instead of the sum of $8,000. for which the same was originally written; and in all other respects, said mortgage lien and the note which was given to secure it , are hereby declared to be in full force and effect and are restored as if the said discharge, dated May 19th, 1930, had never been executed and recorded; and all parties defendant are restrained and enjoined from doing or performing any acts which will interfere with the petitioner in the exercising of the rights of the petitioner in and to the premises described in said mortgage, as the holders of a first mortgage lien upon said premises. The decree also contained appropriate provisions for giving effect to the reinstatement of the plaintiffs mortgage of 1928. The trustees for the Randolph Associates and the Randolph Trust Company appealed.

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