VENDOR AND PURCHASER-RIGHT OF PURCHASER TO EXONERATION AS TO A PRIOR VENDOR'S LIEN

Authors

Abstract

The case of McClure v. Southfield Woods Corporation, decided by the Michigan supreme court last year, raised an interesting question as to whether a contract vendee of land which is included in a tract subject to a pre-existing vendor's lien has a right of exoneration against his vendor as to such incumbrance. The plaintiff in that case had sold land to the Southfield Woods Corporation by a contract which provided for joinder of the vendor and vendee in a subdivision plat and for release of any lots from the vendor's lien upon payment of a stipulated sum, in addition to the regular instalments, to be applied upon the principal. The land company sold a number of lots by other contracts, securing releases as to some, but not as to others. It then defaulted in payments on the purchase price, whereupon the plaintiff refused to give further releases and brought a bill to foreclose the contract. The lot vendees, made parties at first, were later dismissed because of failure to appear. The supreme court confirmed a decree of the circuit court ordering the tract sold as an entirety excepting lots already released or released under the provision giving subpurchasers the right to a release upon payment of the balance of the purchase price within thirty days.

Recommended Citation

VENDOR AND PURCHASER-RIGHT OF PURCHASER TO EXONERATION AS TO A PRIOR VENDOR'S LIEN, 31 Mich. L. Rev. 110 (1932).
Available at: https://repository.law.umich.edu/mlr/vol31/iss1/13