Harrison v. Ward

Citations

• 46 Pa. Super. 537
• 1911 Pa. Super. LEXIS 310

Syllabus

<p>Contract — Debtor and creditor — Payment—Trust and trustees — Fraud.</p> <p>Where an owner of real estate transfers to Ms creditor the title thereof upon the consideration that the property is to be sold and the proceeds applied first to the indebtedness of the grantor and the remainder to be paid by the grantee to the grantor, a right of action exists to enforce the agreement after a sale, if the purchase money of the property exceeds the debt to the creditor. Such a transaction contains no element of a trust or a mortgage, and it cannot be defeated by a sheriff’s sale on a judgment held by the creditor after he had acquired the title by the deed from the debtor.</p>