Plummer v. Ilse

Citations

• 41 Wash. 5
• 82 P. 1009
• 1905 Wash. LEXIS 1058

Syllabus

<p>Mortgages — Absolute Deed as a Mortgage — Escrow—Delivery Upon Default — Cutting Off Equity of Redemption. Where money was borrowed for the purpose of paying a balance due on the purchase price of premises, and a note and mortgage on the property was then given to the lender, and as part of the same transaction a deed was made to the lender and placed in escrow under an agreement that the same should be delivered in case the note was not paid when due, the deed must be held to be a mortgage although the evidence tends to show that the parties intended otherwise; since it was such in its inception, the relation of debtor and creditor existed, and the equity of redemption cannot be cut off by such an agreement as part of an original transaction between parties under no previous contractual relation.</p>