Volume 117 — New Hampshire Reports

1. Appeal and Error — Preservation of Questions — Failure To Present Below In suit to set aside a conveyance to trustee of a realty trust as a fraud against creditors, since plaintiff judgment creditor of grantor did not argue before trial court that mortgagee from trustee could not be an innocent purchaser for value because he had notice that realty trust was a dry or passive trust which became executed under the statute of uses, issue was not presented for review before supreme court on appeal from trial court's finding that mortgagee was a bona fide purchaser for value without actual or constructive knowledge of any fraud on creditors. <block_quote> 2. Fraudulent Conveyances — Notice Mere existence of declaration of trust which created a realty trust for purpose of holding legal title to grantor corporation's properties<page_number>Page 550</page_number> was not alone constructive notice of any fraud with regard to creditors of grantor.</block_quote> 3. Fraudulent Conveyances — Particular Conveyances That mortgagee from trustee of realty trust obtained title insurance and mortgagee's lawyers, who did title search for mortgagee, had been involved with corporation which granted its undeveloped realty to realty trust and knew a great deal about the close relationship between grantor and realty trust, did not make transaction fraudulent as to grantor's creditors. 4. Fraudulent Conveyances — Particular Conveyances Where mortgagee from realty trust had given adequate and valuable consideration, and where, under all the circumstances, it could not be said as a matter of law that mortgagee had such knowledge regarding inadequacy of consideration for realty that had been conveyed to realty trust as would require mortgagee to make further inquiry regarding validity of conveyance, mortgagee was an innocent purchaser for value without constructive or actual knowledge of any fraud as to creditors of grantor corporation. 5. Fraudulent Conveyances — Particular Conveyances For purpose of determining whether mortgagee from realty trust, who thereafter foreclosed and took title, was a bona fide purchaser for value, facts known to mortgagee concerning consideration for conveyance by grantor corporation of its realty to mortgagor realty trust did not place him under duty to inquire further as to validity of conveyance, notwithstanding fact that undeveloped portion of mortgaged realty had been conveyed by grantor corporation to mortgagor realty trust by deeds reciting that consideration was less than $100, where lots in question were subject to mortgages totaling $240,000 and where developed portion of realty which was also part of security for mortgage was mortgaged for a sum in excess of $3,000,000 and mortgagor realty trust had paid $500,000 for the realty.