Boatright v. Peck

Citations

• 33 Tex. 68

Syllabus

<p>1. B. executed to P. an absolute conveyance of land for the consideration of $1000, and at the same time they executed a joint instrument stipulating that B. should have the privilege of repurchasing the premises for the same price at any time within twelve months, and should remain in possession and pay rent to P. at the rate of forty dollars per month, until such repurchase or the expiration of the twelve months. B. kept possession eleven years and paid over $1200 as rents, and P.’s heirs then sued him m trespass to try title to recover the land. HeW,.thaX whether the conveyance and the concurrent instrument constituted a mortgage. ' -or not was a question of law for the court to decide, and it was error to submit their legal effect to the jury. Held, further, that the two concurrent instruments do constitute a mortgage; that the reservation of rent was but a device to screen usury, and the amounts paid as rents are applicable in satisfaction of the debt. And it appearing that the debt has been extinguished by the payments so made, this court renders final judgment in favor of B., decreeing him full title, free from the lien, and cancelling the conveyance and concurrent instrument.</p>