Michigan Appeals Court Rules That Ownership Rights Under Unrecorded Equitable Mortgage Defeat Rights Of Subsequent Purchaser

A February 14, 2008 decision of the Michigan Court of Appeals provides an illustration of how the bona fide purchaser doctrine operates in the context of an equitable mortgage in a given case. For more, see Ownership Interest Under Equitable Mortgage Defeats Interest Of Subsequent Buyer; Lack Of Knowledge Not Enough To Sustain Bona Fide Purchaser Status, posted on the other blog.

For the court decision itself, Vernier v. Sipe, No. 276037, Mich. Ct. App. (February 14, 2008).