Sandusky v. Faris

38 S.E. 563, 49 W. Va. 150, 1901 W. Va. LEXIS 17
West Virginia Supreme Court·Decided March 16, 1901·Published·Cited by 23 cases

Opinion

Poffenbarger, Judge:

On the 6th. of January, 1898, Jas. B. Sandusky being heavily indebted to various persons, but not in more than the aggregate sum of twenty-three thousand dollars according to his contention, executed a deed of trust in which his wife joined, conveying all of his real and personal property in the counties of Bitchie and Harrison to Samuel Faris in trust to secure the payment of certain liens on said Sandusky’s lands therein speciñed in the order of their priority and the other judgments, debts and liabilities of said Sandusky; reserved to himself the right to collect and use the rents arising out of any of the houses on any part of the real esiate conveyed, the right to operate the mills therein mentioned and enjoy the profits arising therefrom, and the right to use and occupy free from rent one of the buildings on said real estate until such time as a sale thereof should be desired by the trustee; and authorized the trustee to take immediate possession of the property so conveyed subject to said reservations and proceed to [153] make disposition of the same in such manner as he might deem best for all concerned, declaring it to be the intention thereby to grant nnto the trustee free discretion in the execution of the authority granted him and to allow him to proceed at once to exercise the power thereby vested in him, and to institute such suit or suits as he might deem necessary to protect the said interests and to do and perform any and all acts, compromise, prosecute or defend any suit now or hereafter brought concerning said Sandusky’s property or interest, sell and convey said real estate or any part thereof, and to lay it off into lots or parcels, lay off streets, alleys, etc., and if in his judgment the interests of all concerned will be promoted thereby cause said real estate to be surveyed, advertise any sale to be made by him for such length of time, and sell on such terms as he might deem best, and apply the proceeds of such sale to the payment of such liens in the order of their priority, and after such liens should be extinguished, then pro rata on all other debts and liabilities of said Sandusky, and after the payments of such liens and debts in full out of the proceeds of such sales, the trustee should reconvey to said Sandusky whatever should remain unsold of such real or personal estate.

The property conveyed by this deed of trust consists of a tract of land of about four hundred acres situated near the town of Bridgeport in Harrison County, a portion of which is in said town on which there are eleven one and a half story houses, said to have cost about four hundred dollars, each renting for about three dollars per month, all of which tract is said to be worth sixteen thousand dollars; a house and lot in said town known as the John Payne property and alleged to be worth four hundred and fifty dollars; another two-story frame house and about an acre of land therewith known as the W. E. Hill property and alleged to he wotth one thousand two hundred dollars; a shop and lot in said town purchased of said Hill for three hundred and sixty-five dollars; a grist mill, and saw mill in said town and land upon which same are situated alleged to have cost seven thousand dollars; about five hundred and fifty-one acres in Ritchie County of which about four hundred acres are virgin forest, well timbered, all of which tract is charged to be worth eight thousand two hundred and sixty-five dollars; one-half of a tract of three hundred and seventy-two acres in Ritchie County, of which two hundred and seventy-five acres are improved and in grass, claimed [154] to be worth two thousand eight hundred dollars; a tract of about two hundred and ten acres in Harrison County known as the Jas. Coplin lands claimed to be worth seven thousand dollars, and personal property not itemized, claimed to be of the value of two thousand dollars.

The only liens specified in the deed of trust of January 6, 1898, are a judgment for five hundred and ten dollars and seventy-seven cents in favor of Jas. McDermott dated September 17, 1896, on which it recites three hundred dollars had been paid, and a judgment for three hundred and thirty-nine dollars and thirty-six cents dated May 11, 1897, .and costs in favor of Otto D. Barnes; but the plaintiff admits in his bill that there are other liens and unsecured debts due and owing from him. The Jas. A. Coplin land was encumbered by a lien created by deed of trust executed by Coplin and wife and his mother dated August 16, 1888, to Kelso Bell, trustee, to secure to said Sandusky the payment of five thousand five hundred dollars in consideration of his agreeing to pay numerous debts due from Coplin to divers other persons. Said suin' of five thousand five hundred dollars was evidenced by a note executed by Coplin to Sandusky and he assigned it to the West Virginia Bank as collateral security for debts and obligations due to it from Sandusky, amounting now as he claims, to about five thousand dollars, and said bank still holds said note and the deed of trust has never been released.

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Sandusky v. Faris, 38 S.E. 563, 49 W. Va. 150, 1901 W. Va. LEXIS 17 (W. Va. 1901).

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