Public-domain · open source
OpenJurist

264 Mich. 26

249 N.W 480

Equitable Trust Co. v. Wetsman

Michigan Supreme Court

Decided June 29, 1933

Michigan Supreme Court · decided 1933-06-29

Cited by 1 later decisions — most recently July 1934

1 state decisions

Relies on Nusbaum v. Shapero · Union Guardian Trust Co. v. Rau

Good law ✅— No negative treatment on recordhow we know

Decided 1933-06-29

View the full empirical analysis of this case →

¶1The bill of complaint herein was filed to foreclose a mortgage executed on December 1, 1924, by the defendants Joseph Wetsman and Bessie Wetsman, his wife, and Harry Selzer and Minnie Selzer, his wife, to "the Guaranty Trust Company of Detroit," mortgagee, to secure the payment of 164 bonds, amounting in all to the sum of $120,000. In it the plaintiff alleges that the mortgage was executed and delivered to the "Guaranty Trust Company of Detroit, trustee," and that by an order of the court the plaintiff was "duly appointed successor-trustee under said mortgage." A copy of the mortgage was annexed thereto. The appointment of a receiver was prayed for.

¶2The trial court, basing decision on our holding in UnionGuardian Trust Co. v. Rau, 255 Mich. 324, denied the motion therefor. Plaintiff has appealed.

¶3The mortgage did not run to the mortgagee as trustee, nor do we find any provision in it creating such a relation.Nusbaum v. Shapero, 249 Mich. 252, is not applicable to the facts here presented. *28

¶4Order affirmed. Costs to appellees.

¶5CLARK, NORTH, and WIEST, JJ., concurred with SHARPE, J.

/264/mich/26 · .json · Public domain