Connecticut Investment Co. v. Demick

Citations

• 105 Wash. 265
• 177 P. 676
• 1919 Wash. LEXIS 525

Syllabus

<p>Mortgages (109, 110)—Merger of Tithes—Intention—Express Agreement. A second mortgage, assigned to an investment company, is not merged by a quitclaim deed to the assignee with an agreement to reconvey, the deed being given to secure advances for taxes, where that was not the intention, there being an express agreement that the mortgage remain in force and payments made thereon.</p> <p>Same (57)—Bona Fide Holder—Preexisting Debt. Where a subsequent mortgage was taken for a pre-existing debt, the mortgagee is not a holder for value as against a prior mortgage supposed by him to be released.</p>