MORTGAGES -ASSIGNMENT IN GOOD FAITH AFTER MATURITY CUTS OFF PRIOR LATENT EQUITIES

Authors

Abstract

M executed a negotiable note payable to the order of P, secured by a mortgage. After maturity, P assigned the note and mortgage without his indorsement to X for value. Y procured an assignment of these from X by fraud and in turn assigned them to Z, a purchaser without notice and for value. In Z's suit to foreclose the mortgage, X intervened, demanding the delivery of the same to himself. Held, Z's bona fide purchase cut off X's latent equity. Frank v. Brown, 255 Mich. 415, 238 N. W. 237 (1931).

Recommended Citation

MORTGAGES -ASSIGNMENT IN GOOD FAITH AFTER MATURITY CUTS OFF PRIOR LATENT EQUITIES, 30 Mich. L. Rev. 1342 (1932).
Available at: https://repository.law.umich.edu/mlr/vol30/iss8/21