Mechanics' Bank v. First National Bank of McComb City

Citations

• 117 Miss. 437
• 78 So. 355

Syllabus

<p>1. Mortgages. Priorities.</p> <p>Where there were three successive trust deeds at different dates upon the same property, all recorded at the time they were made, the first and third trust deeds being given to the same bank and the second trust deed to another party, the bank holding the • first and third trust deeds was not entitled to have the third trust deed take precedence of the second trust deed on the theory that the loan, secured by the third trust deed was in fact but an advance under the first trust deed which in terms secured future advances, where it appeared that both creditors secured by trust deeds had no notice except from the records, and notwithstanding the third trust deed referred to the first, the bank in making the loan secured by the third trust deed not having any agreement either verbal or written that the note secured thereby should be secured by the first trust deed.</p> <p>2. Same.</p> <p>Under the facts in this case the taking of the first and third trust deeds were not at all part of the saíne business, but wholly separate and distinct agreements, having no possible connection one with the other.</p>