The American Reports: Containing All Decisions of General Interest ..., volume 3

Cover The American Reports: Containing All Decisions of General Interest ..., volume 3
The American Reports: Containing All Decisions of General Interest ..., volume 3
Isaac Grant Thompson, Irving Browne, Lawyers Co-Operative Publishing Company
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mortgagee fail to notify the insurers of any cKange of ownership after the same shall have come to his knowledge, the policies shall be void. They have definitely determined the question, perhaps not definitely settled by adjudication, as to the right of subrogation by an agreement making part of the contract of insurance, that, whenever the insurers shall pay to the mortgagee any sum for loss, for which loss the company would not have been liable to the mort- gagor or owner, the insurers shall
... be subrogated to the rights of the mortgagee, and entitled to an assignment of the mortgage. This provision is probably in accordance with the legal and equitable rights of the parties, regarding the policy from the time it might become void as to the mortgagor as an insurance, existing only in favor and for the benefit of the mortgagee, and as an insurance upon his interest ite mortgagee, and not as an insurance upon the property generally; although the doctrine has been questioned in King w State Mutual Ins.

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