Gross v. Oatis

Citations

• 74 Miss. 357

Syllabus

<p>1. Deed of Tbtjst. Assignment. Bona fide holder.</p> <p>If the holder of a deed of trust indorses the same, and the note secured by it, and permits the possession of the instruments to pass, and the indorsee transfers the same for value to an innocent third party, the latter will acquire title thereto superior to any undisclosed equity in the original indorser.</p> <p>2. Same. Junior incumbrancer.</p> <p>The owner of a prior deed of trust on personal property to secure a sum greater than the value of the property, may acquire the property from the grantor in his deed freed from a junior lien on the same property.</p> <p>3. Same. Innocent purchaser. Extent of right.</p> <p>If a purchaser be a bona fide one for value, he is entitled not alone to be saved harmless to the extent of his money paid, but should be protected in the fruits of his bargain.</p>