Congregational Church Building Society v. Scandinavian Free Church

Citations

• 24 Wash. 433
• 64 P. 750
• 1901 Wash. LEXIS 552

Syllabus

<p>MORTGAGES- — RECORD INDEX CONSTRUCTIVE NOTICE.</p> <p>A mortgagee of the “Scandinavian Free Church” is not chargeable with notice of a prior mortgage made by the same corporation, when it was’ executed under the name of “Scandinavian Congregational Church,” and indexed under that name in the mortgage records of the county.</p> <p>SAME-EXISTING EQUITIES-NOTICE OE ASSIGNEE.</p> <p>A bona fide assignee of a mortgage for value, although assigned to him after its maturity, is not chargeable with the knowledge of his assignor as to the existence of a prior mortgage, since the rule that the assignee of a mortgage takes it subject to existing equities applies to such equities only as exist between the mortgagor and mortgagee and not to those existing between the mortgagee and third persons.</p>