Jennie T. Lord v. Minnie H. Roberts

In respect to a claim against an estate administered in the insolvent course, the statute (P. L., c. 303, s. 15) permits the allowance of only such part of the claim as exceeds the value of collateral security held for it. Hence, if the full title to the property in Maine was validly mortgaged, the disallowance of the claim was required, since the property was worth more than the amount of the claim. The plaintiff says that the mortgage conveyed only an estate for the decedent's life, the termination of which then and there left the security with no value, and advances argument, first, that if the full title was attempted to be conveyed, yet the power of disposal of the fee given by Abbie's will gave no right to mortgage it, at least under the circumstances, and second, that no more than the decedent's life estate was undertaken to be mortgaged.