Low v. Graff

Citations

• 80 Ill. 360

Syllabus

<p>1. Tbust—title taken to secure payment of loan. Where a father holds an equitable title to land, the legal title being in another as a security for the payment of money, and the son advances the money due, and by arrangement takes a conveyance from the holder of the legal title, as a mere security for the repayment of the sum so advanced, which is not near the value of the land, the son will hold the legal title merely in trust and as a security, and the equitable title will remain in the father.</p> <p>2. But if the son purchases the land and advances the money as a payment for it on his own account, he will take the complete title, both legal and equitable, notwithstanding he may verbally agree that his father may have the future use and occupation as long as he lives.</p> <p>3. Evidence—-parol, that a deed is a m&re security. Parol evidence is competent to show that a deed, absolute on its face, is taken merely as a security for the repayment of money advanced as a loan, but the evidence must be clear and satisfactory.</p> <p>4. Decree—requiring a conveyance to heirs of a party. On bill to enforce a resulting trust on payment of money due the holders of the legal title, a decree requiring such holders to convey “ to the present legal heirs ” of a party named, “ who shall be individually named in said conveyance,” etc., without finding who they are, imposes an unnecessary burden, in ascertaining who are such heirs, upon those required to convey.</p> <p>5. Conveyance—description of grantees. A deed to “ the heirs at law of A B, late of, etc., deceased,” will completely vest the legal title of the grantor in the heirs of A B, without naming them, leaving them, however, to establish their identity when questioned.</p>