Holgate v. Eaton

Citations

• 116 U.S. 33
• 6 S. Ct. 224
• 29 L. Ed. 538
• 1885 U.S. LEXIS 1888

Syllabus

<p>A married woman who, on being informed of a contract made by her husband for the sale of an equitable interest in real estate held by her in her own right, repudiates it, and who, for more than two years, refuses to perform it whenever thereto requested, during which time the property depreciates greatly in value, cannot, after the expiration of that time, enforce in equity the specific performance of the contract by the other party.</p> <p>When the husband of a married woman obtains a decree of foreclosure of a mortgage held by him as her trustee, and at the sale purchases the property and takes a deed in his own name, she retains an equitable interest therein, as against a purchaser from the husband with actual notice.</p> <p>A loaned B a sum of money on a conveyance of a tract of land, the equitable interest in which belonged, as A knew at the time, to B’s wife. Be further agreed with B to acquire an outstanding tax title of the property, and subsequently complied with that agreement. Simultaneously by a separate instrument, they agreed that A, on payment of a further sum, might, at his election, acquire the whole title of B and wife, to be conveyed by warranty deed executed by both ; or, if A so elected, B should repay the sum loaned and the amount paid for the tax-title, A holding the premises as security until such payments, and then reeonveying. B’s wife, though often requested, refused to comply with the agreement. After the lapse oí more than two years, the property meanwhile having greatly depreciated, B’s wife, by next friend, filed a bill in equity against A to compel specific performance. A filed a cross-bill against B and wife in that suit to recover the sum loaned and the sum paid for the tax-title. The wife dying, the suit was revived and prosecuted by her administrator ; and her heirs also joined as complainants. JIM, (1) That the delay in commencing proceedings was inexcusable, cspoeially as a material change took place meanwhile in the subject-