Chantland v. Midland National Bank

Citations

• 66 Kan. 549
• 72 P. 230
• 1903 Kan. LEXIS 98

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Title and Ownership — Trust Estate — Invalid Attachment. A tract of land was sold under a decree of foreclosure against C. It was bid off at the sale by H. in the name of N., and the sheriff’s deed was executed to N. as grantee. The consideration for the sheriff’s deed was paid by H. Afterward the land was attached as the property óf H. in an action against him by a bank, which was one of his creditors, and the property sold to such creditor by the sheriff pursuant to the attachment proceedings. Held, that the bank took no title to the land by reason of its purchase at the sheriff’s sale under the attachment proceedings against its debtor.</p> <p>2. -- Title of Trustee — Eights of Creditors. Where one person purchases real estate for a valuable consideration, and causes the title to be conveyed to another, the latter holds the property in trust for all the creditors of the person paying the consideration, and no estate in the land vests in him who has paid the consideration which is subject to attachment or sale on execution.</p> <p>3. - Trust Statute Considered. The effect of section 1880, General Statutes of 1Q01, relating to trusts arising by operation of law, considered.</p> <p>4. -Fraudulent Conveyance — Finding not Disturbed. Certain real estate other than that referred to above, which was attached after its conveyance by the debtor, was held by the trial court to have been conveyed in fraud of a creditor whose debt was contracted subsequently to the conveyance. Held, that the finding will not be disturbed.</p>