Ament v. Brennan
Ament v. Brennan
Opinion of the Court
Tbe contest'in this case is over the surplus proceeds of a lot in Nashville after satisfying the vendor’s lien reserved on the face of his absolute deed to the vendee, and is between an attaching creditor of the ven-dee, and another creditor of the vendee claiming under a prior execution, levy and sale of said land. The latter prima fade has the better right, but this right is resisted upon several grounds.
First, it is said that the vendee had no such interest in the land as could be reached by execution, because a lien was reserved on the face of his deed for a part of the purchase-money. The argument in support of this position is, that, in such case, the vendee is a trustee for the vendor to the extent of the unpaid purchase-money, and that his legal interest consists in the naked legal title, and his beneficial interest is equitable, and neither is, therefore, subject to levy by execution. It is true that in this state the courts have held that the lien of a vendor reserved on the face of his deed is, as between him and his vendee, substantially the same as a lien by mortgage so far as the enforcement of the remedy is concerned. Hines v. Perkins, 2 Heisk. 395; Ellis v. Temple, 4 Cold. 315. It is also well settled that a naked legal title, such as that of a mortgagee or of a trustee under an assignment for the benefit of creditors, is not leviable by éxecution, for it has no value in itself. And it is equally well settled that an equitable interest in property is not leviable, for an execution reaches only legal interests. But it is too clear for argument that the interest of a vendee in land which has actually been conveyed to him is legal not equitable, and it has never been held by any court,.so far as I am aware, that a legal interest in land coupled with the legal title is not leviable by execution although it may be at the time subject to an equitable encumbrance. The ride in such cases is caveat emptor, and the purchaser takes the legal interest of the debtor cum onere. Simmons v. Tillery, 1 Tenn. 274; Berry v. Walden, 4 Hay. 174.
It is next objected that the deed under which the legal
It is next insisted that the purchaser at the execution sale is estopped to set up the deed, having in his original pleadings, which are sworn to, asserted that there was no such deed in existence. But this fact is fully explained by the circumstances. The vendor and vendee both labored under the impression that no such deed had been made, and so
Lastly, it is urged that the execution sale was void because the levy was upon several town lots, and they were sold in block, instead of' separately. 6 Cold. 328 ; 7 Cold. 446. But an examination of the levy shows that although three lots are nominally included, yet all except one and seven feet of another are expressly excepted out of it, because previously sold and conveyed by the debtor. Moreover, the deed itself to the debtor describes the property actually levied oil and sold as one lot, and it is the title of the debtor himself which fixes the fact whether the property shall be considered as one lot for the purpose of execution sale, or several.
The result is that the title of the purchaser at the execution sale is superior to that of the attaching creditor, and it will be decreed accordingly. But the costs will be paid out of the fund.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.