Snyder v. Partridge

Citations

• 138 Ill. 173
• 29 N.E. 851

Syllabus

<p>1. Mobtgage-—mistake in description —liability of purchaser with notice—inadequate consideration. A, the owner of the south half of a quarter of land, worth $3550, borrowed of B $1000, and attempted to give a mortgage thereon to secure the loan, but by mistake the mortgage described the north half of the quarter. 0, with knowledge of the mistake, bought the land intended to be mortgaged for $1000, and, for the purpose of concealing his purchase, took the deed from A in the name oi D, who also had notice of the mortgage, and C, or O and D, sold the land to E, an innocent purchaser without notice, for $3550, and A and his wife, for the consideration of $50, quitclaimed to E to pass the dower of A’s wife. On bill by B to reform and foreclose the mortgage against the other parties, it was held, that O and X) were bound to account to B for all the purchase money received from E, and interest thereon, except the $1050 paid by them, or one of them, to A, with lawful interest from the time of payment, and that E was liable with them for such portion of the purchase money as he had paid to either of them since he was served with process in the suit.</p> <p>2. Where, by a mistake, a mortgage is given,J on a wrong tract of land, and a party having notice of the mistake buys the land intended to be mortgaged, advances the purchase money,—about one-fourth the value of the land,—and takes a deed in the name of another who has notice, and makes a sale to an innocent purchaser, who receives a deed, a court of equity will require such party who procures the deed from the mortgagor to account to the mortgagee for the profits made on his purchase, over and above what.he has paid for the land.</p> <p>3. In cases of mistake in written instruments, courts of equity will not only interfere as between the original parties, but also as against voluntary grantees and purchasers.</p> <p>4. Where the fraudulent purchaser of .land on which another is in equity entitled to a mortgage lien, di