Salter v. Baker

Citations

• 54 Cal. 140

Syllabus

<p>Mortgage—Besuetutg Trust—Superior Equity—Maxims.—The maxim “ qui prior est tempore,potior est jure’’ only applies Avliere the equities are equal; otherwise, preference is gwen to tlie superior equity. Accordingly, Avliere B. and S. purchased land, each contributing equally to the purchase-money, and the conveyance ivas taken to B.; and B.—after haA'ing, Avith the consent of S., conveyed tho land, in trust, to secure a debt—mortgaged it, without such consent, to a mortgagee, avIio took without notice of theVrust: Held, that the equity of the mortgagee was superior to that of S., and that the latter should be postponed to the former.</p>