Baldwin v. Sager

Citations

• 70 Ill. 503

Syllabus

<p>1. Mobtbabe—what is a satisfaction of, as to subsequent purchaser. Where a junior mortgage was assigned by a deed absolute on its face, though, in fact, as a security for the payment of money, to one who afterwards purchased the equity of redemption from the mortgagor, and also purchased the land at a sale under a senior mortgage, and then sold to a third party, without notice of the private agreement between the assignor and assignee of the junior mortgage, such purchaser took the absolute title, discharged of any claim under either of the mortgages.</p> <p>2. Lien — subsequent purchasers, how affected by. Where a party purchases property upon which there is a lien, of which he has no notice, and pays all the purchase money, he will hold it, discharged of such lien.</p> <p>3. Same—notice of, to purchasers, after purchase and before payment. If a party purchases property without notice of any lien or incumbrance thereon, but, before paying for the same, he is notified of such lien, the same can be enforced as against him.</p> <p>4. Same—where purchaser is notified of, after part payment. If a party purchase land for full value, without notice of any lien, and pays a part of the purchase money, and, before paying the balance, is notified of such lien, the same can be enforced to the extent of the unpaid purchase money, if the notes given therefor have not been negotiated.</p>