Spokane City Club v. Union Trust Co.

Citations

• 117 Wash. 587
• 201 P. 906
• 1921 Wash. LEXIS 894

Syllabus

<p>Mortgages (259) — Redemption—Allowances—Power to Impose Conditions on Redemptioner. Under an agreement between a mortgagee and a holder of second mortgage bonds on the same property, whereby the notes and mortgage owned by the first' mortgagee were surrendered to a trust company to be held in escrow, pending purchase of the property by the second mortgage bondholder, and the first mortgage was foreclosed on demand of such bondholder and the property purchased by the trustee, the second mortgage bondholder had no right to have the amount due him included as part of the sum payable on a redemption from the foreclosure sale by a judgment creditor of the mortgagor, since such action would tend to defeat redemption from the foreclosure sale to the possible detriment of the first mortgagee.</p>