Jones v. Vogel

Citations

• 185 Pa. 1
• 39 A. 546
• 1898 Pa. LEXIS 662

Syllabus

<p>Mortgage — Release—Principal and agent.</p> <p>Where the holder of a purchase money mortgage which covers a large number of building lots agrees to release the several lots as they are sold, upon the payment to him of the purchase price of the lots, and the relation of principal and agent does not exist between the mortgagor and mortgagee, the purchasers of the several lots cannot compel the mortgagee to release their lots upon the payment of the money to the mortgagor unless it can be shown that the purchase money was paid over by the mortgagor to the mortgagee.</p> <p>Where a mortgagor who is in default in his payments agrees to pay the mortgagee weekly all purchase money thereafter received from lots then sold or thereafter to be sold, and to give him access to the books relating thereto, and the mortgagee, in consideration thereof, agrees to release the lots as they are sold, upon receiving the full consideration money obtained for them, this does not make the mortgagor the agent of the mortgagee so as to compel the latter to release lots, the purchase money of which has been paid by the purchasers to the mortgagor, but which has not been paid by him to the mortgagee.</p>