Interstate B. & L. Ass'n v. McCartha

Citations

• 43 S.C. 72
• 20 S.E. 807
• 1895 S.C. LEXIS 133

Syllabus

<p>1. Bond — Recorded Mortgage — Attorney’s Fees. — The record of a mortgage is constructive notice of its contents to all subsequent purchasers of the mortgaged land; but a mortgage duly recorded, setting forth particulars of the bond secured thereby, and specially referring to it as a “part hereof,” is not notice of a provision in the bond requiring the payment of attorney’s fees in case of collection of the bond by suit, the mortgage itself containing no such stipulation, but providing for such fees only in case of a sale by the mortgagee under the power therein contained. Therefore, no attorney’s fees can be demanded out of the proceeds of a foreclosure sale as against a subsequent purchaser, who had no other notice than that which the record supplied.</p> <p>2. Per MoIver, G. J., Ibid. — Ibid.—Ibid.—A provision in a bond providing for attorney’s fees in case of collection by suit in a clause relating, also, to a waiver of homestead and exemption in this and other property, together with the absence of such a provision in the mortgage, would seem to apply only to a suit at law on the bond, and not to an action for foreclosure of the mortgage.</p>