Carter

On March 12, 1917, appellant herein, Rodney L. Turner, was the owner of a tract of land in Tulare County, and on that date mortgaged it to one W. J. Walters, trustee, to secure the repayment of $18,000, with interest, maturing in three years.

Thereafter W. J. Walters, trustee, assigned this note and the mortgage securing the same to Security Savings' Bank of Riverside, and subsequently the Security Savings Bank assigned to Elizabeth A. Frost; shortly before the filing of the original complaint in this action Elizabeth A. Frost assigned the note and mortgage to George A. Carter, the plaintiff and respondent herein.

On March 11, 1919, appellant conveyed the Tulare County land above referred to, to J. B. Pilcher, taking in ostensible payment therefor Pilcher’s note for $12,000 secured by a deed of trust upon the property, which was subsequent to the mortgage above referred to. This note and deed of trust was executed to Citizens Trust & Savings Bank as trustee for Turner. On March 14, 1919, Pilcher conveyed the property to W. J. Buell, subject to the mortgage for $18,000 and the deed of trust for $12,000.

Before the commencement of this action Carter, the respondent, and Turner,…