Shipp v. New South Building & Loan Ass'n

Citations

• 81 Miss. 17

Syllabus

<p>1. Deed oe Tbtjst. Trustee. Substitution. Laws 1896, p. 105.</p> <p>A sale of land by a substituted trustee under a deed of trust is void, unless evidence of the substitution be placed of record before the sale, as required by statute. Laws 1896, p. 105.</p> <p>2. Same. Special terms of the deed. Successor of an officer.</p> <p>Where a deed of trust names a designated individual as trustee so long as he remains the treasurer of a certain corporation, and provides that his successor as such treasurer shall, by becoming treasurer ipso facto become the trustee in the deed without writing, deed, formal or other appointment, a sale by a succeeding trustee is void unless evidence of the substitution be placed of record as required by said statute.</p>