Source: https://chestofbooks.com/real-estate/Real-Property-Interests-Law/Sec-617-Insurance-By-mortgagor.html
Timestamp: 2019-04-24 11:56:36+00:00

Document:
Swan, 59 N. H. 22; Compare Connecticut Mut. Life Ins. Co. v. Bulte, 45 Mich. 113, 7 N. W. 707. That the holder of one of the notes secured by a mortgage could not purchase at tax sale as against the holder of another of such notes, see Gilman v. Heitman, 137 Iowa, 336, 113 N. W. 932.
19. Mendenhall v. Hall, 134 U. S. 559, 33 L. Ed. 1012; McAlpine v. Zitzer, 119 111. 273, 10 N. E. 901; Frank v. Arnold, 73 Iowa, 370, 35 N. W. 453; Chamberlain v Forbes, 126 Mich. 86, 85 N. W. 253; Carter v. Bustamente, 59 Miss. 559; Drew v. Morrill, 62 62 N. H. 565; Maher v. Potter, 60 Wash. 443, 111 Pac. 453.
20. Safe Deposit & Trust Co. v. Wickhem, 9 S. D. 341, 62 Am. St. Rep. 873, 69 N. W. 14. But see Gibson v. Gilman, 71 Kan. 320, 80 Pac. 587.
Pick. (Mass.) 40, 20 Am. Dec. 507; Jackson v. Massachusetts Mut. Fire Ins. Co., 23 Pick. (Mass.) 418, 34 Am. Dec. 69; Guest v. New Hampshire Fire Ins. Co., 66 Mich. 98, 33 N. W. 31.
The giving of a mortgage does not involve breach of a condition in the insurance policy against alienation. Quarrier v. Peabody Ins, Co., 10 W. Va. 507, 27 Am. Rep. 582; Commercial Ins. Co. v. Spankneble, 52 111. 53, 4 Am. St. Rep. 582; Hartford Steam-Boiler Inspection & Insurance Co. v. Lasher Stocking Co., 66 Vt. 439, 44 Am. St. Rep. 859, 29 Atl. 629.
22. Royal Ins. Co. v. Stinson, 103 U. S. 25, 26 L. Ed. 473; McDonald v. Black's Adm'r, 20 Ohio, 185, 55 Am. Dec. 448. See Gordon v. Massachusetts Fire & M. Ins. Co., 2 Pick. (Mass.) 249; Aetna Fire Ins. Co. v. Tyler, 16 Wend. (N. Y.) 385, 30 Am. Dec. 90.
23. Strong v. Manufacturer's Ins. Co., 10 Pick. (Mass.) 40, 20 Am. Dec. 507; Stephens v. Illinois Mut. Fire Ins. Co., 43 111.
327; Buffalo Steam Engine Works v. Sun Mut. Ins. Co., 17 N. Y. 401; Richland County Mut. Ins. Co. v. Sampson, 38 Ohio St. 672.
24. Waring v. Loder, 53 N. Y. 581; Buck v. Phoenix Ins. Co., 76 Me. 586; Wilson v. Hill, 3 Mete. (Mass.) 66.
25. Wheeler v. Factors' & Traders' Ins. Co., 101 U. S. 439, 25 L. Ed. 1055; In re Sands Ale Brewing Co., 3 Biss. 175, Fed. Cas. No. 12307; Grange Mill Co. v. Western Assur. Co., 118 111. 396, 9 N. E. 274; Johnson v. Northern Minnesota Land & Investment Co., 168 Iowa, 340, 150 N. W. 596; Thomas' Adm'rs v. Von Kapff's Ex'rs, 6 Gill. & J. (Md.) 372; Miller v. Aldrich, 31 Mich. 408; Aetna Ins. Co. v. Thompson, 68 N. H. 20, 7a Am. St. Rep. 552 40 Atl. 396; Cromwell v. Brooklyn Fire Ins. Co., 44 N. Y. 42, 4 Am. Rep. 641; Batson v. Misz, 81 Ore.
607, 160 Pac. 530; Nichols v. Bax-ter, 5 R. I. 491; Willamson v. Michigan Fire & Marine Ins. Co., 86 Wis. 393, 39 Am. St. Rep. 906, 57 N. W. 46. But it has in Massachusetts been held that the insurance must have been procured by the mortgagor with the intention of performing his agreement, in order that the mortgagee may have a claim on the proceeds. Stearns v. Quincy Ins. Co., 124 Mass. 61.
26. Ames v. Richardson, 29 Minn. 330, 13 N. W. 137; Nordyke & M. Co. v. Gery, 112 Ind. 535, 2 Am. St. Rep. 219, 13 N. E. 683; Nichols v. Baxter, 5 R. I. 491.
27. Columbia Ins. Co. v. Lawrence, 10 Pet. (U. S.) 507, 9 L. Ed. 512; Carpenter v. Providence Washington Ins. Co., 16 Pet. (U. S.) 495, 10 L. Ed. 1044; Han-cox v. Fishing Ins. Co., 3 Sumn. 132, Fed. Cas. No. 6,013; VandeBy the mortgagee. The mortgagee has an insurable interest,28 though only to the amount of the mortgage debt;29 and this interest continues till the mortgage debt is paid, or the land passes into other hands by foreclosure.30 The interests of the mortgagor and the mortgagee are so distinct that both may be insured at the same time.31 The mortgagee's right to the proceeds of the insurance taken out by him is not affected by the fact that the property is still, even graaff v. Medlock, 3 Port. (Ala.) 389, 29 Am. Dec. 256; Niagara Fire Ins. Co. v. Scamman, 144 111. 490, 19 L. R. A. 114, 28 N. E. 919, 32 N. E. 914; Nordyke & Marmon Co. v. Gery, 112 Ind. 535, 2 Am. St. Rep. 219, 13 N. E. 683; Ryan v. Adamson, 57 Iowa, 30, 10 N. W. 287; Ames v. Richardson, 29 Minn. 330, 13 N. W. 137; McDonald v. Black's Adm'r, 20 Ohio, 185, 55 Am. Dec. 448; Nichols v. Baxter, 5 R. I. 491; Plimpton v. Farmers' Mut. Fire Ins. Co., 43 Vt. 497.
28. National Bank of D. O. Mills & Co. v. Union Ins. Co., 88 Cal. 497, 22 Am. St. Rep. 324. 26 Pac. 509; Bell v. Western Marine & Fire Ins. Co., 5 Rob. (La.) 423, 39 Am. Dec. 542; King v. State Mut. Fire Ins. Co., 7 Cush. (Mass.) 1, 54 Am. Dec. 683; Clark v. Washington Ins. Co., 100 Mass. 509, 1 Am. Rep. 135; Foster v. Van Reed, 70 N. Y. 19, 26 Am. Rep. 544; Grevemeyer v. Southern Mut. Fire Ins. Co., 62 Pa. St. 340, 1 Am. Rep. 420.
N. H. 110; Excelsior Fire Ins. Co. v. Royal Ins. Co., 55 N. Y. 343, 14 Am. Rep. 271; McDonald v. Black's Adm'r, 20 Ohio, 185, 55 Am. Dec. 448; Smith v. Columbia Ins. Co., 17 Pa. St. 253; 55 Am. Dec. 546.
30. National Bank of D. O. Mills & Co. v. Union Ins. Co., 88 Cal. 497, 2 Am. St. Rep. 324, 26 Pac. 509; Excelsior Fire Ins. Co. v. Royal Ins. Co., 55 N. Y. 343, 14 Am. Rep. 271; King v. State Mut. Fire Ins. Co., 7 Cush. (Mass.) 1, 54 Am. Dec. 683.
His insurable interest continues even after his assignment of the note, if he is liable as an indorser on the mortgage note. Williams v. Roger Williams Ins. Co., 107 Mass. 377, 9 Am. Rep. 41.
31. Carpenter v. Providence Washington Ins. Co., 16 Pet. (U. S.) 495, 10 L. Ed. 1044; Westchester Fire Ins. Co. v. Foster, 90 111. 121; Jackson v. Massachusetts Mut. Fire Ins. Co., 23 Pick. (Mass.) 418, 34 Am. Dec. 69; Williams Mfg. Co. v. Ins. Co. of North America, 85 Vt. 282, 81 Atl. 916; Manson v. Phoenix Ins. Co., 64 Wis. 26, 54 Am. Rep. 573, 24 X. W. 407.
32. Aetna Ins. Co. of Hartford v. Baker, 71 Ind. 102; Foster T. Equitable Mut. Fire Ins. Co., 2 Gray (Mass.) 216; Excelsior Fire Ins. Co. v. Royal Ins. Co., 55 N. Y. 343, 14 Am. Rep. 271; Smith v. Columbia Ins. Co., 17 Pa. St. 253, 55 Am. Dec. 546.
33. Russell v. Southard, 12 How. (U. S.) 139, 13 L. Ed. 927; Honore v. Lamar Fire Ins. Co., 51 111. 409; Deming Inv. Co. v. Dickerman, 63 Kan. 728, 88 Am. St. Rep. 265, 66 Pac. 1029; Stinch-field v. Milliken, 71 Me. 567; White v. Brown, 2 Cush. (Mass.) 412; Sterling Fire Ins. Co. v. Beffrey, 48 Minn. 9, 50 N. W. 922; Excelsior Fire Ins. Co. v. Royal Ins. Co., 55 N. Y. 343, 14 Am. Rep. 271.
34. Norwich Fire Ins. Co. v.
Boomer, 52 111. 442, 4 Am. Rep. 618; Concord Union Mut. Fire Ins. Co. v. Woodbury, 45 Me. 447; Pendleton v. Elliott, 67 Mich. 496, 35 N. W. 97; Rutherford v. Sample, 186 Mo. App. 469, 171 S. W. 578; Leyden v. Lawrence, 79 N. J. Eq. 113, 81 Atl. 121; Waring v. Loder, 53 N. Y. 581; Nichols v. Baxter, 5 R. I. 491.

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