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OLD HOMESTEAD v. SCHRAM

No. 7785.

103 F.2d 1017 (1939)

The OLD HOMESTEAD, Inc., a Michigan Corporation, and Marion B. Rood, v. B. C. SCHRAM, Receiver of First National Bank-Detroit, a National Banking Association.

Circuit Court of Appeals, Sixth Circuit.

April 14, 1939.

Attorney(s) appearing for the Case

Royal D. Rood, of Detroit, Mich., for appellants.

Robert S. Marx, Ethan C. Prewitt, and Lawrence I. Levi, all of Detroit, Mich., for appellee.

Before SIMONS, ALLEN, and HAMILTON Circuit Judges.

PER CURIAM.

In an appeal from a decree of foreclosure of a real estate mortgage the appellants assert a lien superior to the mortgage, but it appearing that subsequent to the execution of the mortgage the mortgagor conveyed title to the mortgaged real estate to a corporation having no other assets, and of which he and his wife and children were the only incorporators and stockholders, and that thereafter the corporation with funds derived from rentals of the mortgaged...

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