Kerfoot v. Farmers' & Merchants' Bank - 218 U.S. 281 (1910)
U.S. Supreme Court
Kerfoot v. Farmers' & Merchants' Bank, 218 U.S. 281 (1910)
Kerfoot v. Farmers' & Merchants' Bank
Argued October 25, 1910
Decided November 7, 1910
218 U.S. 281
In the absence of clear expression of legislative intention to the contrary, a conveyance of real estate to a corporation for a purpose not authorized by its charter is not void, but voidable. The sovereign alone can object; the conveyance cannot be impugned by the grantor, his heirs or third parties.
Although the conveyance of real estate in this case to a national bank was not one permitted by § 5137, Rev.Stat., title to the property passed to the grantee for the purpose expressed in the conveyance, and that instrument cannot be attacked as void by an heir of the grantor.
On writ of error to review the judgment of a state court holding that a deed to a national bank was not void under the federal statute, this Court will not review findings of the state court of fact as to the acceptance of the deed.
The facts, which involve the validity of a transfer of real estate to a national bank, are stated in the opinion.