Scrivner v. Dietz

Citations

• 84 Cal. 295
• 24 P. 171
• 1890 Cal. LEXIS 807

Syllabus

<p>Trust for Benefit of Creditors — Oral Agreement with Purchaser from Trustee — Statute of Frauds. — When an express trust in land has been created by deed, for the purpose of paying the debts of the grantor, an oral agreement with a purchaser from the trustee, that he should take the title subject to the same trust, is not subject to the ob- ' jection that such a trust cannot he created by parol, but the purchaser will he charged in equity with the terms of the trust created by the deed, as being a purchaser with notice of its terms.</p> <p>Id. — Revocation of Trust — Extinguishment. — Such trust could not he revoked without the consent of all the creditors for whose benefit it was created; nor could it be extinguished without the consent of the beneficiaries, except by the entire fulfillment of its object, or by such object becoming impossible or unlawful.</p> <p>Merger of Mortgage in Fee — Question of Intent. — Merger is always a question of intent, when the question is as to whether a mortgage lien is merged in the fee.</p> <p>Id. — Protection of Equity against Merger. — Equity will keep the legal title and the mortgagee’s interest separate, although held by the same person, whenever necessary for the full protection of his just rights.</p> <p>Id.—Intervening Liens — Merger of Trust Title — Distinct Trusts.</p> <p>— If there is an intervening mortgage, attachment, or other lien, the acquirement of title by a prior mortgagee will not operate as a merger; and this rule would apply with still greater force where the prior mortgage was held by the mortgagee in trust for one person, and the title is acquired by him in trust for another.</p>