Creditors' Rights and Security Transactions -- 1962 Tennessee Survey

Tanner v. Mobley presented the problem of who may bring an action to recover usury. The plaintiff in the action, brought to recover usury and purge a trust deed and note of usury, was the daughter-in-law and grantee of the maker of the note and trust deed. The note and trust deed were executed in 1952. In 1954 the property covered by the trust deed was conveyed to plaintiff in consideration of her promise to pay the note and care for the grantor.

Plaintiff continued to make payments on the note for several years after the death of grantor in 1955. In affirming the action of the lower court in holding that plaintiff could not maintain the action, the court relied upon Tennessee Code Annotated section 47-1617 and several prior cases.