57 P. 908 | Or. | 1899
delivered the opinion of the court.
This is a suit to set aside a deed, and to subject a part of the real property described therein to the lien of a judgment against the grantor. It is alleged in the complaint that on July 1, 1898, the defendant S. B. Baisley executed to the Baker City National Bank his promissory note for the sum of $3,588, payable six months after date, with interest at the rate of ten per cent, per annum; that plaintiff thereafter became the owner thereof, and on March 6, 1898, recovered judgment thereon, upon which an execution was issued, and returned wholly unsatisfied; that at the timé said note was executed Baisley was the owner in fee of the south i of the southeast i and the southeast i of the southwest i of section 15, in township 7 south, of range 38 east of the Willamette Meridian ; the west i of the southeast i of section 25, the south of section 26, the east i and the northwest i of section 35, in township 8 south, of range 39 east of said meridian, in Baker County, — containing one thousand acres, more or less; that on December 1, 1894, Baisley and wife, for the expressed consideration of $6,000, executed' to their sons, Perry A. and J. H. Baisley, a general warranty deed of said property ; that no consideration was paid for the conveyance; that it was executed with intent to hinder, delay, and defraud the creditors of S. B. Baisley; that the premises therein described were then of the reasonable value of $10,000 ; and that Baisley had no other property out of which plaintiff’s judgment, or any part thereof, can be satisfied. The answer denies the material allegations of the complaint, and avers that S. B. Baisley, on December 1, 1894, was indebted to Perry A. and J. H. Baisley in the sums of $500 and $125, respectively, in consideration of which, and of their payment of the sum of $25,
It is contended by plaintiff’s counsel that the evidence shows that the conveyance was voluntary, and that, Baisley being indebted to plaintiff’s assignbr at the time it was executed, the ccurt erred in dismissing the suit. The evidence shews that on December 1, 1894, said lots in Baker City, together with a building thereon, known as “Meier’s Hotel,” were incumbered with a mortgage executed by Baisley and wife to the Baker City National Bank, to secure the sum of $3,350 ; that the east i of section 35 in township 8 south of range 39 east, was subject to a mortgage executed by them to the Lombard Investment Company, to secure the sum of $2,000, and that such incumbrance on the hotel property was also a second lien thereon, but that the undivided one-tenth of the other tracts, equivalent to sixty-eight acres, was unincumbered; that the grantees in said deed sold the lots in Baker City some time in 1896, for the sum of $3,000, in consideration of which, and the further sum of $50, said bank entered satisfaction in full of its mortgage, thereby relinquishing the sum of $757.58, and releasing the east ¶ of said section 35 from the lien thereof; that they paid the interest and $300 of the principal due upon said Lombard Investment Company’s mortgage, and secured an extension of two years for the payment of the remainder; that
It being the duty of an infant to labor for his parent in consideration of the latter’s furnishing him maintenance and education, it has been held that a deed of land executed by an insolvent parent to his infant child in consideration of services rendered or to be rendered during his minority is voluntary, and void as to creditors of the grantor: Swartz v. Hazlett, 8 Cal. 118; Stumbaugh v. Anderson, 46 Kan. 541 (26 Pac. 1045) . A
The lower court found that at the time of the conveyance the lots in Baker City were worth from $2,000 to $2,500, and that the other land was worth $9 per acre. There being three hundred and eighty-eight acres of the latter, if the value of the lots be estimated at $2,500, the aggregate value of the property conveyed would be $5,992. While there is some conflict in the testimony as to the value of the land on December 1, 1894, we think the court found the full value thereof, coBsidering the great financial depression prevailing at that time. It will be remembered that in 1896 the receiver of the Baker City National Bank released a second mortgage on the east of section 35, relinquishing the sum of $757.58. This tract was then subject to the Lombard Investment Company’s prior mortgage of $2,000, and from the satisfaction of the second mortgage it must be inferred that the receiver considered it of no greater value than the amount of such prior incumbrance, or $6.25 per acre. The evidence also shows that this tract is the most valuable portion of the whole premises conveyed. S. B. Baisley was the owner of a dower interest in the tracts of which he was seised of an undivided one-tenth interest, but, the person for whose life he held such estate having died soon after the conveyance to his sons, the value thereof is not computed; but, if it were, we nevertheless think that an adequate consideration was paid for the conveyance, and hence it follows that the decree is affirmed. Affirmed .