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LAND TITLE BANK & TRUST CO. v. WARD

DISTRICT COURT, E.D. OF PENNSYLVANIA


September 27, 1937

LAND TITLE BANK & TRUST CO.
v.
WARD

The opinion of the court was delivered by: MARIS

MARIS, District Judge.

This is a suit to recover from the former owner delinquent real estate taxes paid by plaintiff. From the statement of claim the following facts appear:

On April 16, 1926, plaintiff's predecessor acquired by assignment a bond and mortgage secured on premises situate at the southwest corner of C Street and Allegheny avenue in Philadelphia. On December 10, 1931, the Northwestern National Bank & Trust Company of Philadelphia (hereinafter called the Bank) became the real and equitable owner of the mortgaged premises subject to the mortgage, and from that date until May 4, 1936, collected, received, and held all the rents of the property.

 On June 25, 1934, the defendant was appointed by the Comptroller of the Currency receiver of the Bank. On May 4, 1936, pursuant to foreclosure proceedings instituted by the plaintiff upon the bond and mortgage above mentioned, the mortgaged premises were sold by the sheriff to the plaintiff for the sum of $75, no part of which sum was received back by the plaintiff as mortgagee. On July 27, 1936, the premises were conveyed to the plaintiff by sheriff's deed. City and school taxes were assessed against the mortgaged premises by the taxing authorities for the years 1933, 1934, 1935, and 1936, but the Bank failed to pay them, and they remained unpaid at the time of the sheriff's sale and were then a lien upon the property. These unpaid city and school taxes amounted with interest and penalties at the time of the sheriff's sale to the following sums: 1933 city and school taxes $2,227.15 1934 city and school taxes 2,340.15 1935 city and school taxes 2,286.34 1936 city and school taxes 1,968.75

19370927

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