Bagot v Bagot
| Jurisdiction | England & Wales |
| Judgment Date | 05 December 1864 |
| Date | 05 December 1864 |
| Court | High Court of Chancery |
English Reports Citation: 55 E.R. 585
ROLLS COURT
[134] bagot v. bagot. Nov. 15, Dec. 5, 1864. In 1775 A. B. became owner in fee of estates W. and L. The W. estate was subject to mortgages amounting to 5344, and the L. estate to a mortgage amounting to .2200, all of which were created by A. B.'s ancestor. In 1787 A. B. mortgaged the L. estate for 8000, reserving the equity of redemption to himself, and personally covenanting to pay the money out of this sum. He paid off the three mortgages on the W. estate ; A. B. died in 1806. Held, as between the representatives of A. B., that the mortgage was primarily payable out of A. B.'s personal estate. The question was, whether a certain mortgage on the real estate of Walter Bagot (deceased) was, as between his representatives, primarily payable out of his personal estate. The question arose under the following circumstances :- Egerton A. Bagot died in 1775, seised in fee of certain hereditaments in Warwickshire and Lancashire, which [135] were subject to several mortgages created by himself. The Warwickshire estates were subject to three mortgages, amounting together to 5344, 3s. 4d., and the Lancashire estate was subject to a mortgage to Whalley for 2200. By his will, Egerton A. Bagot devised these estates in tail to Walter Bagot, who, in the same year (1775), suffered a recovery and acquired the fee-simple. In 1787 Walter Bagot borrowed a sum of 8000 by way of mortgage from the (1) See Me Aitkin, 4 Barn. & Aid. 47 ; Tyke v. WM, 14 Beav. 14 ; Re Becke, 18 Beav. 462; Diaxm v. Wilkinson, 4 De Gex & Jones, 508. R. viii.-19* 58g BAGOT V. BAGOT 34BBAV.136. v j Earl of Dartmouth and Lord Bagot on the security of the Lancashire estates alone, and on that occasion the following deed was executed ;- An indenture, dated the 12th of July 1787, was made between Whalley and Cottam (who were entitled to the mortgage of 2200 on the Lancashire estates), and Walter Bagot and the Earl of Dartmouth and Lord Bagot, which recited as follows :- " And whereas the said Walter Bagot, being desirous to pay off and discharge the said principal sum of 2200 so due and owing to the said Whalley and Cottam as aforesaid, hath applied to the Earl of Dartmouth and Lord Bagot to advance and lend him the same, which they have agreed to do; and the said Walter Bagot having occasion to borrow and take up at interest the further sum of 5800, they, the Earl of Dartmouth and Lord Bagot, have also agreed to lend and advance him the...
To continue reading
Request your trial