Tyler v. Abergh

Robinson, J., delivered the opinion of the Court. This is a case involving the .title to a house and lot, which was sold by John R. Marchant to Charles Abergh. The purchase money was all paid, and at the request of the purchaser, the property was conveyed to his wife. The deed was delivered to her on the 1st of January, 1883, but by some oversight, it was not deposited for record until the 19th of March, 1884.

On the 17th of March, Marchant, the vendor, made a voluntary assignment of all his property to the appellant for the benefit of his creditors, in consideration of which they executed a general release of all claims and demands ²⁰ against him. The deed to the appellant as assignee was recorded on the 17th of March, two days prior to the deed of Mrs. Abergh. The Code provides “That where there -are two or more deeds conveying ” the same property “ the deed or deeds which shall be first recorded according to law shall be preferred, if made bona fide and upon good and valuable consideration.” Art. 24, sec. 16, of the Code of Pub. Gen.

Laws. The appellant contends, that the deed to him as assignee having been first recorded, is entitled under this section to priority over the deed of the appellee. But the answer to this is, that the deeds referred to in the Code, are deeds, as between bona fide purchasers. By bona fide purchasers, we mean persons who have either paid or advanced money upon the faith of the grantor’s actual title to the property transferred, or who have accepted specific property in payment of a specific debt, as in Busey vs. Reese, 38 Md., 264 .

As between such purchasers, having deeds of the same property, the deed first recorded is entitled to priority. But an assignee for the benefit of creditors, stands upon a different footing. The property is conveyed to him to pay pre-existing debts, and not in consideration of money paid or advanced by him or by the creditors. He stands in the shoes of the assignor, and takes the property subject to all the