Bullock v. Battenhousen

Citations

• 108 Ill. 28
• 1883 Ill. LEXIS 51

Syllabus

<p>1. Recording daw—record of deed of trust referring to note without giving amount, no notice of amount. Under the registry laws of this State the record of a trust deed which simply recites that the grantor had, on the same date of the deed, made his promissory note, payable to, etc., without giving its amount, will not charge subsequent bona fide purchasers without actual notice with knowledge of the amount for which the note was given.</p> <p>2. Mortgage—should disclose the amount of debt secured. If a mortgage is given to secure an ascertained debt, the amount of that debt should be stated; and if it is intended to secure a debt not ascertained, such' data should be given respecting it as will put any one interested in the inquiry upon the track leading to a discovery. If it is given to secure an existing or a future liability, the foundation of such liability should be set forth.</p> <p>3. The policy, though not the letter, of our statutes, requires in all cases a statement upon the record of the amount secured by a mortgage or deed of trust.</p>