King v. Wilder

Citations

• 75 Ill. 275

Syllabus

<p>Trust—hill to declare trust in nature of mortgage, and for redemption—■ laches. In 1846 A and B were the owners of certain lots, but the legal title was in B, who held the undivided half in trust for A, which he had obligated himself to convey upon payment of §1,000, which A owed him. Several years afterward, in 1850, B and A had a settlement of their transactions, and B relieved A of his agency in respect to the lots, and appointed another agent to sell them, which fact was known to A. In 1851 B sold the lots to C, who had no notice of A’s rights, the agreement between A and B never having been recorded, and 0 sold half of the lots to D, and they improved the lots and erected residences thereon, all of which was known to A, who gave them no notice of his claim, or pretended to have any interest in the property. More than twenty years after the purchase by O and D, A filed his bill to redeem the lots and for an account of the rents and profits, which, on a hearing, was dismissed: Held, that the bill was properly dismissed and that A’s laches was inexcusable.</p>