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Full-Text Articles in Law
Mortgages - Effect Of Extension Of Time To Mortgagor
Mortgages - Effect Of Extension Of Time To Mortgagor
Michigan Law Review
The mortgagor sold part of the mortgaged premises to Morgan and Peters, who assumed the mortgage and agreed to pay the debt. They in turn resold to Jones and Dalton who also assumed the mortgage and agreed to pay the debt. The remainder of the mortgaged premises was sold by the mortgagor to Bursell under a warranty deed free from all incumbrances. The mortgagee at the request of the mortgagor and of Jones and Dalton but without the knowledge of Morgan and Peters extended the time of payment five years. The mortgage remaining unpaid at the end of that time, …
Mortgages-Assumption-Liability Of Grantees To Mortgagor
Mortgages-Assumption-Liability Of Grantees To Mortgagor
Michigan Law Review
Three successive grantees to a plot of land purchased it subject to a first and second mortgage and assumed the obligation to pay the notes which the mortgages secured. Foreclosure proceedings by the first mortgagee absorbed the entire value of the land. The second mortgagee then extended the time payment on the note to the last grantee without the consent or knowledge of the mortgagor or of the intermediate grantees. Such action released the intermediate grantees from liability on the note, for they were only secondarily liable, but did not release the mortgagor, for he as maker was primarily liable …
Property-Meander Lines As Boundaries
Property-Meander Lines As Boundaries
Michigan Law Review
In a recent decision the supreme court of Michigan has considered anew, and with refreshing insight, the significance of a meander line as a boundary. The case arose on a bill to foreclose a land contract to which the defendant filed a cross-bill alleging fraud in the sale. The property which abutted on Lake Michigan was represented by plaintiff's agent as extending to a point about one hundred feet from the shore of the lake. The meander line was two hundred seventy-seven feet from the water's edge. On the theory that the plaintiff had no interest in the strip between …