Fogle v. Coxsey

295 S.W.2d 471, 6 Oil & Gas Rep. 1361, 1956 Tex. App. LEXIS 1922
Court of Appeals of Texas·Decided October 19, 1956·No. No. 3264·Published·Cited by 1 cases

Opinion

GRISSOM, Chief Justice.

A. E. Fogle sued Mary A. Coxsey and husband in trespass to try title to an undivided one-half interest in the minerals in a 120 acre tract of land. Judgment was rendered for defendants and plaintiff has appealed.

In 1906 James A. Wilkinson and wife, the agreed common source of the title, conveyed the 120 acres to their daughter, who became Mary A. Coxsey. In 1920 Mrs. Coxsey and her husband executed a deed of trust thereon to F. W. Gleason, trustee for Pan-American Life Insurance Company, to secure payment of $1,800. On December 1st, 1925, Mrs. Coxsey and her husband executed an extension agreement the effect of which was to recognize the existence of an unpaid balance of $1,260 and provide for its payment with interest in five installments and that Pan-American’s said deed of trust lien should secure its payment.

On January 14, 1928, the Coxseys conveyed said 120 acres to C. H. Moore, but excepted therefrom an undivided one-half of the minerals. The consideration recited in the deed was $1,500 cash, one vendors lien note for $1,240 and ten for $200 each and the assumption of the $1,260 balance owed Pan-American by the Coxseys. On March 31, 1928, Pan-American transferred the balance of Coxseys’ said note, to wit, $1,260, to the First Trust Joint Stock Land Bank of Dallas and the deed of trust lien securing its payment. On January 14, 1928, the Coxseys’ executed an assignment to said Dallas Land Bank of note number one of the eleven notes given to them by C. H. Moore in the purchase of the 120 acres, less one-half the minerals, and provided therein that the lien securing the remaining ten notes should be inferior to the lien securing, the note transferred and inferior to the lien seecuring Moore’s $2,-600 note. On P’ebruary 27, 1928, C. II. [472] Moore and wife executed a deed of trust to Melvin A. Traylor, trustee for said Dallas Land Bank, on said 120 acres to secure payment of Moore’s note to said bank for $2,600. In May, 1928, the Coxseys assigned to Walter J. Taylor the last ten of the eleven notes executed to them by C. H. Moore in the purchase of said 120 acres, less one-half the minerals. In 1929 Walter J. Taylor assigned said notes to J. D. Taylor. On November 30, 1928, said Dallas Land Bank sold and transferred the Moores’ $2,600 note and all its interest in the land described in the Moores’ deed of trust to the First Trust Joint Stock Land Bank of Chicago. Melvin A. Traylor, the trustee named in said deed of trust, died and Abdon Holt was appointed substitute trustee by the Chicago Land Bank. On September 29, 1934, the Moores conveyed the 120 acres tract, without mentioning the minerals reservation, to J. D. Taylor in consideration of the cancellation of said last ten vendors lien notes executed by Moore to the Coxseys. On October 2, 1934, said substitute trustee sold said 120 acres by virtue of the authority granted by the deed of trust executed by Moore and wife to Melvin A. Traylor, trustee for said Dallas Land Bank, to secure payment of Moore’s note to said bank for $2,600. Said substitute executed a trustee’s deed to the purchaser, J. D. Taylor, to said 120 acre tract and J. D. Taylor thereafter executed a deed to the same to A. E. Fogle, the plaintiff.

Mr. Fogle’s claim to the one-half of the minerals reserved by the Coxseys in their deed to C. H. Moore depends upon the sale under the deed of trust executed by Moore to the Dallas Land Bank. The controlling provision thereof, which follows a metes and bounds description of the 120 acres, is as follows:

“ * * * and being the same land described in that certain deed, dated January 14, 1928, executed by Mary A. Coxsey and N. A. Coxsey to C. H. Moore, to be filed for record herewith in the records of deeds of Taylor County, Texas, and the note hereinafter described is secured by a first vendors lien against said land, being given in lieu and in extension of part of the balance due on indebtedness described in said instrument it is expressly agreed that the holder of the note hereinafter described shall be, and it is hereby, subrogated to all the rights of and shall have all the rights and remedies for the collection of the same that the holder of said original notes had, all of which is hereby acknowledged and confessed.”

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Fogle v. Coxsey, 295 S.W.2d 471, 6 Oil & Gas Rep. 1361, 1956 Tex. App. LEXIS 1922 (Tex. Ct. App. 1956).

295 S.W.2d 471 (Fogle v. Coxsey) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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