Wilson v. McWilliams

Citations

• 16 S.D. 96
• 91 N.W. 453
• 1902 S.D. LEXIS 84

Syllabus

<p>1. Evidence considered, and held sufficient to show that defendant advanced money to redeem from a foreclosure sale of plaintiff’s property under an agreement to deed to plaintiff on payment of the amount • advanced.</p> <p>2. A mortgage on plaintiff’s property was foreclosed, the property sold at foreclosure sale, and defendant, at plaintiff’s request, redeemed from the sale, taking a deed in his own name, and agreeing to convey to plaintiff if he within a year paid the amount expended by defendant, with interest. Held, that the transaction was an equitable mortgage.</p> <p>3. While evidence to show that a deed absolute in form was intended as a mortgage must be clear and convincing, the same degree of proof is not required to show that one who redeemed from a foreclosure sale held the land only as security for the payment to him by the mortgagor of the amount required to redeem, and occupied the position of mortgagee.</p>