Easton v. German-American Bank

Citations

• 127 U.S. 532
• 8 S. Ct. 1297
• 32 L. Ed. 210
• 1888 U.S. LEXIS 2016

Syllabus

<p>A creditor whose debt is secured’by- a deed of trust of real estate to a third party as trustee, may purchase the property at a sale by the trustee under the terms of the trust; and if he credits the debtor on the mortgage debt with the amount of the purchase money, it is in fact and in law a money payment to the use and benefit of the debtor.</p> <p>The plaintiff in error acquired by the purchase from the assignee in bankruptcy no interest either in the debt of the bankrupt to the defendant in error, or in the real estate conveyed in trust to secfire it.</p>