South Carolina Loan & Trust Co. v. McPherson

Citations

• 26 S.C. 431
• 2 S.E. 267
• 1887 S.C. LEXIS 50

Syllabus

<p>1. Findings of fact by the master, concurred in by the Circuit Judge, approved.</p> <p>2. A mortgage recorded after the time prescribed by the act of 1876 (16 Stat., 92; Gen. Stat., §1776) has lien from the date of recording, and consequently takes priority over the claims of all creditors who have not before that time established a lien. King v. Fraser, 23 S. O., 543, approved.</p> <p>3. A mortgage taken in good faith but not recorded for nineteen months, and then put upon record by the mortgagee within two days before a general assignment by the mortgagor for the benefit' of his creditors, is not made within ninety days before such assignment, and therefore is not avoided by section 2015 of the General Statutes. And being a lien, it is not affected by the assignor declaring that the’property assigned is subject to the mortgage.</p>