[DOWNLOAD] "Grisham v. Southland Royalty Company" by Supreme Court of the State of Oklahoma # Book PDF Kindle ePub Free

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eBook details

• Title: Grisham v. Southland Royalty Company
• Author : Supreme Court of the State of Oklahoma
• Release Date : January 21, 1958
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 66 KB

Description

1 Defendant in error and plaintiffs in error will be referred to as "plaintiff" and "defendants", respectively, as they appeared in the trial court. Plaintiffs purpose in commencing the action, on March 3, 1954, was to quiet its title to an undivided one-fourth of the minerals, hereinafter referred to as "royalty", in and under an 80-acre tract of land. Its asserted right to this relief was based upon the warranty of title contained in the mineral deed by which defendants ancestor, S.C. Newbern, now deceased, and his then wife, conveyed the royalty to it in 1929. At that time, the tract of land, of which the royalty was an integral part, was owned by C.D. and Rilla Bussa, husband and wife, and was encumbered by a real estate mortgage, apparently held by one Cordelia Sandridge. Also, Bussa had a promissory note indebtedness at the Byars State Bank, and Newbern, as its president, had obtained, as security for said indebtedness and another debt Bussa owed the American State Bank of Rosedale, in which Newbern was a major stockholder, a quit claim deed to the land, naming him (Newbern) as grantee. It was while he was thus holding record title to the tract, that Newbern sold and conveyed, to plaintiff, the royalty here involved, and, with the sales proceeds, paid taxes due and delinquent thereon and the expenses of the sale, and credited the balance on Bussas note at the Byars bank.

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