Dignan v. Moore

Citations

• 8 Wash. 312
• 36 P. 146
• 1894 Wash. LEXIS 57

Syllabus

<p>MORTGAGES —DEED ABSOLUTE ON ITS FACE — OPTION TO GRANTOR TO REPURCHASE.</p> <p>A deed absolute on its face will not be construed as a mortgage, although a separate writing in the nature of an option contract was executed at the same time by the grantee agreeing to reconvey upon certain conditions, when it appears that the grantee declined to make a loan upon the property, and that, upon the importunity of the grantors, he agreed to purchase their equity of redemption, which they were about to lose under an incumbrance already upon the property, and further, that the parties were dealing upon equal terms and the consideration was not grossly inadequate.</p>