McCoppin v. McCartney

Citations

• 60 Cal. 367
• 1882 Cal. LEXIS 468

Syllabus

<p>Taxation of Satisfied Mortgage—Constitutional Law.—The provision of the Constitution as to the taxation of mortgages applies to mortgages executed prior thereto.</p> <p>Id.—Id. --Vested Right.—A mortgage prior to the adoption of the new Constitution did not have a vested right of exemption from taxation which extended beyond the life of the former Constitution. Even if he had a contract with his mortgagor by which the latter agreed to pay all taxes, a change in the law which imposed the duty on him to pay the tax in the first instance would not violate the obligation of the contract.</p> <p>Id.—Id.—Mortgagor and Mortgagee.—An erroneous assessment of a mortgage already satisfied is not void. In such ease (Pol. C. § 3678) by operation of law the tax on the mortgagee’s interest is valid only against the real estate, and payable by the owner of the land whose estate has been enlarged by the release of the mortgage lien.</p>