Old Homestead, Inc. v. Schram

Sixth Circuit

Old Homestead, Inc. v. Schram

103 F.2d 1017, 1939 U.S. App. LEXIS 3756

CourtCourt of Appeals for the Sixth Circuit

DecidedApril 14, 1939

DocketNo. 7785

StatusPublished

This text of 103 F.2d 1017 (Old Homestead, Inc. v. Schram) is published on Counsel Stack Legal Research, covering Court of Appeals for the Sixth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Old Homestead, Inc. v. Schram, 103 F.2d 1017, 1939 U.S. App. LEXIS 3756 (6th Cir. 1939).

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Opinion

PER CURIAM.

In an appeal from a decree of foreclosure of a real estate mortgage the appellants assert a lien superior to the mortgage, but it appearing that subsequent to the execution of the mortgage the mortgagor conveyed title to the mortgaged real estate to a corporation having no other assets, and of which he and his wife and children were the only incorporators and stockholders, and that thereafter the corporation with funds derived from rentals of the mortgaged property secured assignment to it of the mechanics lien now relied upon, and it being the opinion of the court that whatever interest in the property passed to the corporation became merged with the title to the fee, and that in any event the corporation in this situation may be regarded as a mere fiction, and that the lien was therefore in effect satisfied by the mortgagor and vests no title in appellants superior to the mortgage, it is hereby ordered that the decree below be and it is hereby affirmed.

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PER CURIAM.

In an appeal from a decree of foreclosure of a real estate mortgage the appellants assert a lien superior to the mortgage, but it appearing that subsequent to the execution of the mortgage the mortgagor conveyed title to the mortgaged real estate to a corporation having no other assets, and of which he and his wife and children were the only incorporators and stockholders, and that thereafter the corporation with funds derived from rentals of the mortgaged property secured assignment to it of the mechanics lien now relied upon, and it being the opinion of the court that whatever interest in the property passed to the corporation became merged with the title to the fee, and that in any event the corporation in this situation may be regarded as a mere fiction, and that the lien was therefore in effect satisfied by the mortgagor and vests no title in appellants superior to the mortgage, it is hereby ordered that the decree below be and it is hereby affirmed.

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Bluebook (online)

103 F.2d 1017, 1939 U.S. App. LEXIS 3756, Counsel Stack Legal Research, https://law.counselstack.com/opinion/old-homestead-inc-v-schram-ca6-1939.