Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-12-09
NoRRIDGEWocK.
WASHINGTON COUNTY CASE.
Bill in Equity Against Eastport Saw.
ings Bank Dismissed.

n rescript drawn by associate Justice
Arno w. King of Ellsworth, dismissing
without costs the bill in equity of Louise
L. Greenlaw VS.. PASSPORT Savings Bank,
was handed down by the law court We'd
nesday The rescript is as follows:
Louise E. Greenlaw. in Equity VS. East
port Savings Bank, ct ais Rescript.
King, J.
Bill in equity to redeem certain real
estate from deed absolute in form,
given by Mary s. l<enney on March IA,
1887 to Samuel D. Leavitt to secure loans
then made and to be made to Mrs.
kenney to erablefher to build a hotel on
the land conveyed. A bond for reconvey-
ance was given, at the same time as the
deed, from Mr.. Leavtt to Mrs. Kenney.
The loans were made by the bank, and
Mr.. Leavitt subsequently conveyed the
same real estate to the bank to hold as
security for the loans made by the
bank or himself to Mrs. Kenney
The case is before the law court on
report for the determination Of the ques-
ton submitted by the referee, whether
there is a subsisting right of redemption
from the deed of Mary S. Kenney of
March IA, 1887, or whether that right of
redemption became eXtinguished by the
subsequent agreement of the parties,
shown by the statement of facts found by
the referee.
/. While it is well settled principle
that mortgagor will not be permitted
to change the character of the mortgage,
or release, surrender or embarass his
right of redemption by any agreement
made at the same time and as part of
the mortgage transaction, it is also a
we'll settled doctrine that a mortgagor by
a subsequent voluntary agreement may
sell and convey to the mortgage his
equity of redemption and all his right
and interest in the mortsaged premises
provided such subsequent agreement is
bona fide for an adequate consideration,
and not procured by fraud, oppression
or undue influence on the part of the
MORTGAGE.
The meaning of the oft-auoted legal
maxim "Once mortgage always a mort
gage" is more precisely stated "Once a
mortgage always mortgage until the
parties by subsequent bona fde ar
rangement between them agree to treat
it differently"
. The referee has found as fact, that
after seven years from the time of the
original transaction, which was in effect
a mortgage, the parties mutually agreed
that the bank should retain the land "as
full payment for the loans'' and in pur-
suance of that agreement the bond for
re-conveyance, which had not been re-
corded, was surrendered. From the
finding of the facts by the referee it must
be assumed by the court that it was the
intent of the parties by this subsequent
agreement to vest the estate uncondition-
ally in the grantee of the original deed,
and that the agreement was voluntary
on the part of the mortgagor, and was
fair, honest, and not procured by fraud
or undue influence on the part Of the
mortgage.
Applying the well established doctrine
above mentioned to the facts as found
by the referee and the conclusion neces-
sarily follows that the right of redemp-
ton from the deed of Mary S. Kenney OF
March IA, 1887 was extinguished by the
subsequent agreement of the parties. and
is no longer subssting right.
In accordance with the provisions Of
the referees report the entry must be
Pill dismissed Without coctc