Steffian v. Milmo National Bank

Citations

• 69 Tex. 513
• 6 S.W. 823
• 1888 Tex. LEXIS 888

Syllabus

<p>1. Bona Fide Purchaser. — When the consideration of a deed is a preexisting debt, or when a mortgage is taken on the land to secure such indebtedness, it will not support the claim of bona fide purchaser.</p> <p>3. Deed — Delivery.—To complete that delivery of a deed which is necessary to pass title to land, it must be placed by the grantor in the control of the grantee, with the intent that it shall become operative as a conveyance.</p> <p>3. Bona Fide Purchaser. — A creditor of a vendee who, to secure his debt, receives a mortgage on land which the vendee had bargained for, bur, had not completed payment for, though such vendee had a deed therefor, signed and acknowledged, which had never been delivered to him with intent that it should operate as a conveyance, does not thereby, as against the rights of the former vendor, occupy the attitude of a bona fide purchaser, without notice, in a suit by him to foreclose the mortgage. Qucere: Whether gross negligence of the original vendor in permitting the vendee to have custody of the deed, might not create an equitable estoppel in favor of the mortgagee, who extended credit in the belief that the possessor of the deed had title, and who would suffer injury by the loss of his mortgage lien?</p> <p>4. Evidence — Delivery.—The declarations of a deceased vendor, made at the time he parts with possession of a deed, are admissible, in a suit to which his executor is a party, in evidence, on an issue as to whether there was then a purpose to deliver the deed in consummation of a sale; his subsequent declarations, made after the registration of the deed, are not admissible, being no part of the res gestea.</p>