Sacre v. Victor L. Sacre People's Savings Bank

55 A.2d 592, 143 Me. 80, 173 A.L.R. 1261, 1947 Me. LEXIS 12
CourtSupreme Judicial Court of Maine
DecidedNovember 6, 1947
StatusPublished
Cited by21 cases

This text of 55 A.2d 592 (Sacre v. Victor L. Sacre People's Savings Bank) is published on Counsel Stack Legal Research, covering Supreme Judicial Court of Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Sacre v. Victor L. Sacre People's Savings Bank, 55 A.2d 592, 143 Me. 80, 173 A.L.R. 1261, 1947 Me. LEXIS 12 (Me. 1947).

Opinion

Tompkins, J.

Bill in Equity seeking an assignment and release from Victor L. Sacre, one of the defendants, to his father, Emile Sacre, the plaintiff, of the defendant’s rights under a bond for a deed from the People’s Savings Bank, the other defendant, for a conveyance of certain real estate in Lewiston, in the county of Androscoggin, State of Maine. The bill is before this court on exceptions to matters of law.

The plaintiff in his bill alleges that on the 15th day of July, 1922, he purchased two certain parcels of real estate in the city of Lewiston, and that he executed at different times three several mortgages to the People’s Savings Bank of Lewiston, Maine, amounting in all to the sum of $50,000; that on the 9th day of August, 1940, while the three mortgages were still outstanding, he entered into a written agreement with the defendant, the People’s Savings Bank, relative to the settlement of said mortgages for less than the amount due thereon; that on the 5th day of November, 1940, the defendant, People’s Savings Bank; further modified the written agreement; that from time to time between the 9th [82]*82day of August, 1940, and the 5th day of March, 1941, said defendant, People’s Savings Bank, advised the plaintiff through his attorney, Edward R. Parent, that it did not de§ire to continue the extension of credit to the plaintiff in accordance with the terms of the mortgages, and from time to time advised him through his attorney that it would continue the extension of credit on said mortgages, to the plaintiff, if the title to the property were taken in the name of another, and instructed the plaintiff, through his attorney, that the Bank did not wish to do business any further with the plaintiff, but if the title to the property were put in the name of another it would continue to finance the property.

Acting upon the advice and instruction of the Bank the plaintiff arranged between August 9, 1940, and March 5, 1941, through his attorney, that his son, the defendant Victor L. Sacre, would hold the title for the plaintiff, so that the Savings Bank would continue to finance said mortgages. The Bank advised the plaintiff, through his attorney, on or about the third of March 1941, that in order to carry such arrangement into effect it would be necessary to foreclose one of the three mortgages and to execute a bond for a deed of the premises to the defendant, Victor L. Sacre; that acting in accordance with said procedure on the third day of March 1941 the defendant, People’s Savings Bank, entered peaceably and openly for the purpose of foreclosing the first mortgage given by the plaintiff. On the 5th day of March, 1941 the Bank executed and delivered to the defendant, Victor L. Sacre, a bond for a deed of this property, and under the provisions of the bond Victor L. Sacre obligated himself to pay the Bank the sum of $2,000 upon the execution of the bond; that the sum of $2,000 was paid to the Bank by the plaintiff and not by Victor. Under the provisions of the bond for a deed Victor agreed to pay the defendant, People’s Savings Bank, the sum of $100 on the 5th day of each month, with interest at the rate of 5 % per annum on the unpaid "balance of $38,000, payable monthly until said sum of $38,000 should be paid; that since the date [83]*83of said bond for a deed the defendant, Victor L. Sacre, had not contributed any of his funds to the payment of the monthly installments of principal and interest, but it had been paid out of funds belonging to the plaintiff by delivering the money over to the defendant Victor, or directly to said Bank. Under the bond for a deed the said Victor agreed to pay all taxes assessed for the year 1941 and subsequent years, pay all water rates charged against said premises and then remaining unpaid, and all water rates thereafter charged against said premises, and to keep the premises insured in a sum not less than $25,000; that since the date of March 5, 1941, the defendant, Victor, has not paid any of the aforementioned charges, but the plaintiff has paid said charges from his own funds, either by money delivered to the defendant Victor, or payment made directly to the Bank; that since the date of the bond for a deed Victor has made no payments out of money belonging to him on account of repairs on said premises, and all the repairs have been paid for out of money belonging to the plaintiff. From March 5, 1941, until May 28, 1944, the plaintiff advanced to said defendant, Victor L. Sacre, the sum of $9,267.83 with which to meet the payments provided for in said bond, and from March 5, 1941, to the date of this bill the plaintiff has paid to said defendant, People’s Savings Bank, the sum of $8,337.99 on account of said bond for a deed, which sum includes the $2,000. paid by the plaintiff at the date of the execution of said bond for a deed, and that from March 5, 1941, to the date of this bill the plaintiff has paid out of his own funds taxes to the city of Lewiston in the amount of $6,294.54, and paid to the said city since March 5, 1941, for water rates the sum of $787.99, and from March 5, 1941, to the date of this bill the plaintiff has paid out of his own funds for insurance on the buildings the sum of $1,431.41, and has also paid all the expense of repairs, improvements, upkeep and maintenance of the buildings on the premises; that at no time since the plaintiff acquired title to the premises to the date of the bill has the defendant, Victor L. Sacre, ever made any payments out of any funds belonging to him[84]*84self for any charges whatever against said premises, but that all payments for maintenance, upkeep, taxes, insurance, payments on account of purchase price, mortgage indebtedness and interest, and every other payment on account of said premises has been made by the plaintiff out of funds belonging to him; that from March 3, 1941, the plaintiff has been constantly in undisputed possession and control of said premises, and has collected all rents and profits therefrom, and at no time has either defendant been in possession or exercised any dominion or control over the premises; that the defendant, People’s Savings Bank, since March 3, 1941, to the date of the bill has treated the plaintiff as the owner of said premises subject to the obligation to the defendant, People’s Savings Bank. After March 3, 1941 until October 1945, the said defendant Victor L. Sacre has treated the plaintiff as the owner of said premises, subject to the obligation to said Bank.

On October 26, 1945, the plaintiff, through his attorney, requested the defendant Victor to execute a quitclaim deed of said premises, but the said Victor refused to execute a quitclaim deed of said premises, and since October 26, 1945, Victor claims to be the owner of said premises free of any right, title or claim on the part of the plaintiff, and the plaintiff alleges that he has no plain, adequate and complete remedy at law. The plaintiff further alleges that at the commencement of the foreclosure proceedings by the Bank, and the giving of the bond for a deed by the Bank to said Victor L. Sacre, it was understood and agreed between the plaintiff and the defendants that Victor was to act as the agent and intermediary for the plaintiff, who is the father of Victor, relative to the premises described in the plaintiff’s bill, and that prior to the date of the execution of the bond for a deed it has been understood and agreed among the parties hereto that the arrangement was one of convenience only, and was for the use and benefit of the plaintiff, and it has been understood and agreed among all the parties that the rights vested in said defendant, Victor, by the bond for [85]

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Bluebook (online)
55 A.2d 592, 143 Me. 80, 173 A.L.R. 1261, 1947 Me. LEXIS 12, Counsel Stack Legal Research, https://law.counselstack.com/opinion/sacre-v-victor-l-sacre-peoples-savings-bank-me-1947.