Burnett
Savings & Loan Society v. Burnett
Opinion
lead Opinion
Henshaw, J.
Action to quiet title. The appeal is from the judgment and from the order denying a new trial.
On the twenty-second day of May, 1868, Denis Ma-honey, the then owner of the lands in controversy, was indebted to the Savings and Loan Society in the sum of $20,000, gold coin of the United States, for moneys borrowed. Upon that date he executed, as party of the first part, a deed of trust to Burr and Dean as parties of the second part; the Savings and Loan Society, as party of the third part, was the beneficiary of the trust, which was for the following declared purposes:
On the sixth day of March, 1869, Denis Mahoney executed to John M. Burnett a deed of trust, whereby and wherein he “granted, bargained, sold, aliened, released, and conveyed the land in controversy to Burnett, upon trust, to receive the issues, rents, and profits of said premises, and apply the same, or such portion thereof as shall be necessary, for the support, maintenance, and education of the nine children of said Denis Mahoney, and to convey to the survivors of them, upon the youngest attaining his majority, equal, undivided portions thereof.” This instrument further provides: “ And in case it should become…