Anderson v. Spencer

Citations

• 51 Miss. 869

Syllabus

<p>1. Vendor and Vendee: Assignment of title bond. Lien thereof</p> <p>The payment, by the assignor of a title bond, of the purchase money due his vendor, is not necessary to the existence of the lien in his favor, as against his assignee, but it does affect the value of his claim as being subordinate to the claim of the first vendor.</p> <p>2. Same: Same.</p> <p>The claim of the obligor of the bond for title being extinguished, the land conveyed to the assignee was bound in his hands or in the hands of a remote vendee, with notice, by a lien in favor of the title bond.</p> <p>3. Assignor of Title Bond : Lien thereof.</p> <p>The holder of a title bond for the conveyance of land, selling the land and assigning the title bond, has a lien on the land for the payment of the purchase money to the same extent as if he had conveyed the land by deed.</p> <p>4. Same : Receiving a deed from obligor. Rffect thereof.</p> <p>When the assignee of the title bond obtains a deed from the obligor of the bond for title, vesting in him the legal title, he holds the land as trustee for his vendor, the assignor of the bond for title.</p>