Balkins

From a decree quieting title in respondent this appeal comes to test the soundness of a judgment against the holder of a valid, recorded mortgage on two-thirds interest in the property where such mortgage had not been satisfied, but respondent had based his claim to a decree upon the mortgagee’s agreement to accept for a release of its mortgage “50 per cent of the gross receipts from said two-thirds interest in said property,” and the mortgagee was tendered only $22.01 instead of $200, the sale having been made for $600.

The evidence shows that prior to February 18, 1932, Mary D. Trowbridge became seized of two-thirds interest in Lot 21, Steele Tract, in the county of Los Angeles as the result of a property settlement with her husband. The lot was improved with a double dwelling house. On that day she mortgaged her interest to appellant and the mortgage was recorded on May 12. During the subsistence of the mortgage Mrs. Trow-bridge deceased but her mortgage was renewed by her executor on February 13, 1941, to secure the debt of the estate of decedent in the sum of $911.05 and the new mortgage was recorded March 27, 1941.

At a sale of tax delinquent properties on August 8, 1941,…