Continental-Equitable Title & Trust Co. v. Conservation Building & Loan Ass'n

Citations

• 266 Pa. 298
• 109 A. 776
• 1920 Pa. LEXIS 555

Syllabus

<p>■Trusts and trustees — Trustee talcing mortgage of trust property in his own name — Impressing trust on mortgage in hands of assignee — Purchase money mortgage — Recital in mortgage — Notice —Equity.</p> <p>The mere fact that one who was a trustee conveyed a piece of land, held partly in his own right and partly as trustee, for which he took a mortgage in his own name, which recited that the premises were the same which the mortgagee, as executor and individually, had conveyed to the mortgagor, and that part of the consideration money was intended to be secured thereby, and subsequently assigned tbe mortgage to one having knowledge of the facts, is not sufficient to impress a trust on the mortgage in favor of the trust estate, so as to compel the purchaser of the mortgage to assign it to the estate, and to account.</p>