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eBook details

• Title: Umpqua forest Industries v. Neenah-Oregon Land Co.
• Author : Commonwealth Court of Pennsylvania
• Release Date : January 18, 1950
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 86 KB

Description

BRAND, Justice. This is a suit wherein the plaintiff Umpqua Forest Industries, a corporation, seeks to have a deed declared to be a mortgage. Plaintiff alleges that it is the owner of two tracts of timber land which are described in the complaint, the first of which we shall call the Kruse tract, and the second, the County tract. The complaint states that on or about 24 February 1942 the defendant Roseburg Plywood Corporation, as the then owner, executed and delivered to the defendant Schaefer a warranty deed to said lands, the consideration stated therein being $6,714; that on 28 February 1942 the defendant Schaefer executed and delivered to the defendant Stafford a warranty deed purporting to convey to the named grantee an undivided one-half interest in said lands; that in fact the instrument delivered to Schaefer was delivered and accepted only as a mortgage to secure the payment of a sum of money which was loaned by Schaefer to the Plywood Corporation coordinately with the execution and delivery of the deed. It is further alleged that the instrument denominated a warranty deed from Schaefer to Stafford was intended by both parties to be only an assignment of a one-half interest in the mortgage.

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