132 Mass. 480 | Mass. | 1882
The plaintiff relies upon the case of Graves v. Hampden Ins. Co. 10 Allen, 281. In that case, a mortgagor, who had agreed to keep the buildings on the mortgaged premises insured for the benefit of the mortgagee, procured of the defendant a policy of insurance payable to the mortgagee in case of loss, which contained the provision that, if the title of the property should be in any way changed, the risk should determine, and also the provision that “no sale of the property shall affect the right of the mortgagee to recover in case of loss under the policy.” After the title of the property had been changed by a conveyance by the mortgagor, the buildings were burned. The defendant paid the mortgagee the amount of his
The policy in the case at bar seems to have been drawn ex pressly to meet the decision in Graves v. Hampden Ins. Co. After specifying matters which shall render the policy void, it provides that the insurance, “ as to the interest of the mortgagee only therein,” shall not be invalidated by acts of the mortgagor, and that, when a loss after a forfeiture is paid to the mortgagee, the company shall be subrogated to his rights under the mortgage to the extent of such payment, and may pay the full amount of the debt to the mortgagee and require an assignment