White v. Krutz

Citations

• 37 Wash. 34
• 79 P. 495
• 1905 Wash. LEXIS 666

Syllabus

<p>Limitations of Actions — Mortgages—Biles and Notes — Extension of Time — Failure to Pay Installments. A provision, in an agreement to extend the time- of payment of a mortgage note, to the effect that the note shall become due without notice upon the failure to pay any installment of interest, does not mature the note or start the running of the statute of limitations upon the failure to pay an installment when due; since the provision is for the benefit of the mortgagee, and may be waived.</p> <p>Same — Extension of Time — Recording—Notice to Subsequent Purchaser. An extension of the time of the maturity of a mortgage note, made while the mortgagee still owns the property, need not be recorded, and is valid as against the mortgagor and subsequent purchasers without notice, so that the statute of limitations does not begin to run against an action of foreclosure until the expiration of such extension.</p>