Hoerr's Estate

Citations

• 20 Pa. Super. 425
• 1902 Pa. Super. LEXIS 256

Syllabus

<p>Equity — Mortgage—Deed—Imprudence.</p> <p>Where a mortgagee takes a conveyance of the mortgaged premises, and in a collateral agreement in writing covenants that if he shall sell the premises for more than the amount of the mortgage he will pay over the surplus to the mortgagor, and thereafter the mortgagee in possession makes improvements with the knowledge of the mortgagor, and after the mortgagee’s death the property is sold for an amount equal in the aggregate to the mortgage and the value of the improvements, the mortgagor is not entitled to any share of the proceeds of the sale.</p>