Lee v. Grimm
Lee v. Grimm
Opinion of the Court
Teeter purchased the lot sold to Grimm-on or about the tenth day of June, 1893, and immediately went into possession and occupancy of the same. His possession continued until the sale to Grimm, in the early part of June, 1896. At the time of his purchase, Teeter had invested in stock of a building and loan association about eighty-four dollars. The consideration for the lot was nine hundred dollars. Seven hundred and fifty.dollars of this he-borrowed of the building and loan association in which he held stock, gave a mortgage upon the real estate, and pledged his ten shares of stock in the association as security for the-loan. The remainder, to-wit, one hundred and fifty dollars, he borrowed on his individual note, which Avas reneAved from time to time, and finally reduced to judgment. This judgment Avas of record at the time Grimm purchased, and it is conceded that Grimm was to pay the same as part of the-consideration. The sale to Grimm Avas at public auction, and it was announced and agreed at this sale that all liens or clouds-upon the title should be removed, and that the purchaser should satisfy the same. Grimm’s bid of one thousand five hundred and twenty-five dollars Avas accepted, and it is agreed that of this amount he was to pay liens amounting to one thousand two hundred and forty-nine dollars. This sum included the judgment upon the one hundred and fifty dollar note, the-mortgage to the building and loan association, and the taxes against the property. The controversy is OA^er the remainder of the purchase price.
The evidence clearly shows that Teeter retained his stock in the association, and that the purchaser paid the amount of the loan. As appellant is seeking to establish an exemption, it is incumbent on him to show, not only that he invested his pension money in the property, but the exact amount of such investment. This he has failed to do. At most, he has adduced evidence tending to show that he paid some interest upon the loan, but the exact amount of his payments are not established. His investment seems to have been in stock of the building and loan association, which he still retains, and in this will he find his exemption. The money invested in the lot was borrowed. True, appellant expected to pay the loan' with the avails of his pension; but, instead of so doing, he made a contract by the terms of which his vendee agreed to pay the loans as a part of the purchase price. Under such a state
Case-law data current through December 31, 2025. Source: CourtListener bulk data.