Seymour v. Tradesmen's Trust & Saving Fund Co.

Citations

• 203 Pa. 151
• 52 A. 125
• 1902 Pa. LEXIS 674

Syllabus

<p>Insurance — Title insurance — Subrogation—Mortgages.</p> <p>Where a title insurance company insures the title of second mortgages, and also the completion of houses upon the property covered by the mortgages, and in the policy the insured warrant that their rights of subrogation shall vest in the company unaffected by any right of the insured, and subsequently the insured after notifying the company that the houses were not completed according to the plans and specifications, proceed to foreclose the mortgages and buy in the property, and thereafter sell the property to the owners of the first mortgage, the insured cannot recover upon the title policy, inasmuch as they voluntarily put it out of their power to comply with their covenant as to subrogation.</p>