Marshall

In 1927 plaintiff son bought land in Berkeley from his mother, and built an apartment house upon it. By 1935, the mother held her son’s note for more than $30,000, secured by second deed of trust. The son then executed grant deed conveying the property to his mother. At the same time he signed and acknowledged a declaration stating that the deed was given in consideration of cancellation of the indebtedness secured by the second deed of trust, which consideration was expressly stated to be adequate; that the transfer was absolute, was made “without fraud, oppression, menace or undue influence and without any advantage whatsoever”; and that he “was retaining no interest whatsoever” in the property. Simultaneously, mother and son executed an agreement by which she released the son from all claims on account of the note and deed of trust held by her and agreed to hold the son harmless upon the note secured by first deed of trust. Their agreement also provided that if she should sell the property “at a profit,” she would share such profit equally with her son, but that this created no interest in the property in the son. By its terms the agreement was not to be enforceable against the…