Grant v. Burr

Citations

• 54 Cal. 298

Syllabus

<p>Deed of Trust—Mortgage.—A deed of trust of land, authorizing th e trustee, upon default of qiayment of a debt, to sell and convey the land described, is not a mortgage requiring foreclosure, but a conveyance of the legal title.</p> <p>Id.—Statute of Limitations—Equity.—The expiration of the statute time for bringing an action to recover a debt, or to enforce any personal obligation, does not operate as an extinguishment or payment; therefore, where the legal title of land has been conveyed to a trustee to secure a debt, the title and power of the trustee is not affected by the expiration of the period prescribed to bar the debt, and a Court of Equity will not interfere to enjoin a sale under the deed. The Statute of Limitations is to be employed as a shield, not as a sword; as a means of defense, not a weapon of attack.</p>