188 P. 182 | Or. | 1920
The gist of plaintiff’s complaint is that the lots in question were deeded to Mrs. Margaret A. Hurst to secure the payment of $900, and that he paid the debt and Rea, the other owner, quitclaimed to him. Therefore he is the owner of the property.
"When real estate is paid for with partnership funds and used for partnership purposes, and the circumstances all show that the partners understood that the land should be partnership property, the intention of the parties as shown by the agreements and by their conduct will govern. Hence when Van Buskirk came into the firm he took a one-half interest in the land: Jarvis v. Brooks, 27 N. H. 37 (59 Am. Dec. 359); Divine v. Mitchum, 4 B. Mon. (Ky.) 488 (41 Am. Dec. 241); Goldthwaite v. Janney, 102 Ala. 431 (15 South. 560, 48 Am. St. Rep. 56, and note at p. 64, 28 L. R. A. 161); Blakeslee v. Blakeslee, 265 Ill. 48 (106 N. E. 470); Darrow v. Calkins, 154 N. Y. 503 (49 N. E. 61, 61 Am. St. Rep. 637, 48 L. R. A. 299).
In regard to the status of firm real estate in equity, it is stated in 20 R. C. L., page 853:
*569 “Although under the rules of the common law, as already seen, a partnership as such cannot hold the legal title to land its ownership will be completely recognized in equity, regardless of the state of the legal title, it being of no importance who holds the legal title, or how he came by it, excepting so far as these facts express or reveal the intention of the partnership.”
The decree of the lower court was right and is affirmed. Affirmed.