65 Iowa 374 | Iowa | 1884
The evidence shows that, when plaintiff elected to accept the Cascade property in part payment for the farm, defendants offered to execute a conveyance of that property to him, but that, for reasons of his own, he preferred that the legal title to the property should be held by defendant, Esther J. Byam, in whom it then was, and the bond for the execution of a deed in the future was accordingly given him, instead of an absolute conveyance. The position of counsel for
If it should be conceded that the contract for the sale and purchase of the farm was fully executed, and that the payment by the defendant of the $600, and the delivery of the bond for the deed to the Cascade property, operated as a full payment of the price of the farm, it would follow, necessarily, that plaintiff would not be entitled to a vendor’s lien on the farm to secure the indebtedness which arose out of the final transaction between the parties. For the law gives, the vendor a lien for the purchase money only of the property on which the lien is given, (Story, Eq. Jur., § 1217,) and, if the final transaction is to be treated merely as a sale by plaintiff to defendants of the Cascade property, it is very clear that he is not entitled to a lien on the farm to secure the debt created by that sale. But we think that was not the real character of the transaction. The delivery of the title bond to plaintiff cannot be treated as the equivalent of an absolute conveyance of the property to him. Defendants’ contract was to convey the Cascade property to plaintiff in part payment for the farm, and that conveyance, when made, was to operate as payment of a specified amount of the price. Until the conveyance was made, it cannot be said that that portion of the price was paid.
The situation of the parties, then, was this: Defendants were under obligation to convey the property to plaintiff in satisfaction of $1,000 of the price of the farm. But the conveyance had not yet been made. The contract with reference to the sale and purchase of the farm in that respect was not
The judgment of the district court, we think, is right, and it is
Affirmed.