Grogan v. Thrift

Citations

• 58 Cal. 378
• 1881 Cal. LEXIS 240

Syllabus

<p>Construction of Mortgage—Exception—Reservation—Declaration of Homestead.—A mortgage excepted and reserved to the mortgagor his homestead right and claim in and to the mortgaged premises, as the same might be appraised and set off to him according to law, etc., but in fact the homestead was invalid, because the declaration did not contain a statement of the estimated actual cash value of the premises.</p> <p>Held, That the intent was that the mortgage should operate only on the excess of the value of the premises over the statutory exemption.</p>