Dabney v. Smith

Citations

• 38 Wash. 40
• 80 P. 199
• 1905 Wash. LEXIS 1114

Syllabus

<p>Mortgages—Satisfaction—Conveyance to Mortgagee—Deed Absolute Upon Failure to Redeem—Contract for Redemption-— Sales. A deed of mortgaged premises from the mortgagors to the mortgagees was intended as a sale and not as a mortgage, where, after five years default in the payment of interest and taxes, the mortgage notes were surrendered and the mortgage cancelled, in consideration of the deed of the premises, and the parties entered into a written agreement providing that the deed should he absolute unless the mortgagors redeemed within a specified time by the payment of the principal and all interest and taxes, less the amount of rents collected, and where, near the expiration of the period of redemption, the mortgagors offered to pay ?2,000 on the contract in case the period of redemption was extended, which offer was refused, and the conduct of the parties indicated no claim that there was any existing enforcible debt, and the mortgagors waited for three years before offering to redeem, during which time the grantees had made valuable improvements; since clear and convincing proof is required to show a deed absolute in form to have been intended as a mortgage.</p>