Smith v. Phenix Insurance

I concur in the judgment, on the ground that there was a change of possession by the lessee’s (Stewart’s) taking possession under the lease, and when this change took place all liability under the policy sued on was, by its terms, at an end.

This was an action on a policy of fire insurance. Trial by the court, and finding and judgment for the plaintiffs. The defendant appeals from the judgment, and the case comes up on the judgment-roll. The policy sued on contained the following clause: “If the interest of the assured in the property be other than an absolute fee simple title, or if any other person or persons have any interest whatever in the' property described, whether it be real estate or personal property, or if the building insured or containing the property insured by this policy stands on leased ground, or if there be a mortgage or other encumbrance thereon, it must be so represented to the company, and so expressed in the written part of this policy; otherwise the policy shall be void. When the property shall be sold or encumbered or otherwise disposed of, written notices shall be given to the company of such sale or encumbrance or disposal, and its assent thereto indorsed thereon; otherwise this insurance on said property shall immediately terminate. . . . . If the property be sold or transferred (in whole or in part) or upon the commencement of foreclosure proceedings against or a sale under a deed of…