Cowen v. Loomis

Citations

• 91 Ill. 132

Syllabus

<p>1. Specific performance—against subsequent purchaser. Where A sold a part of a block of land to B, giving a contract for a deed upon the payment of certain specified sums, which was duly recorded, and B then sold C a lot included in his purchase and received a part of the purchase money and was to convey the same to C upon full payment, and C took and retained possession of his lot, but, before completing his payments, B reconveyed all his interest in the block to A, who conveyed the same to D, it was held, that 0, upon tendering the balance due from him to B, to 0 or D after B conveyed, would have been entitled to a deed, and a court of equity would have decreed one.</p> <p>2. Notice—by possession of land. The possession of land by a party is notice to all persons of whatever title or equities he may have, whether of record or not.</p> <p>3. Mortgage—agreement to release on condition. Where a mortgagee agrees with a purchaser from the mortgagor, upon certain payments being made by the mortgagor, to hold a certain half of the mortgaged premises liable for only one-half of the residue of the mortgage debt, and the purchase is made on the faith of such agreement, which is duly recorded, and the full amount necessary to release the half of the premises is paid in accordance with the contract, a lot in such half bought from the purchaser of the mortgagor will become released from the mortgage, and a sale of such lot made under a power in the mortgage, the latter purchaser being in possession, will be a nullity and pass no title.</p> <p>4. Sale—when subject to equitable title. Where A, the owner of a block of land subject to a mortgage thereon given by him, sold one-half of such block to B, who purchased upon an agreement in writing of the mortgagees to release such half from the lien of the mortgage, upon certain payments being made by the mortgagor, which agreement with the contract of purchase was duly recorded, and B then sold a lot in such half block to C, who we