United States Supreme Court Cases & Opinions

U.S. Supreme Court

United States v. Home Title Insurance Co., 285 U.S. 191 (1932)

United States v. Home Title Insurance Co.

No. 356

Argued January 19, 1932

Decided March 14, 1932

285 U.S. 191

Syllabus

1. The guaranty of payment of principal and interest of mortgage loans is insurance. Bowers v.Lawyers Mortgage Co., ante, p. 285 U. S. 182. P. 285 U. S. 195.

2. A corporation, organized under the insurance laws of New York, and deriving more than three-fourths of its income from insurance of titles and guaranties of mortgages sold by itself and from services incident to that business, including title examinations and appraisals, held an "insurance company" within the meaning of that term as commonly understood and as used in § 246 of the Revenue Acts of 1921 and 1924. Cf. Bowers v.Lawyers Mortgage Co., supra. P. 285 U. S. 195.

50 F.2d 107 affirmed.

Certiorari, 284 U.S. 606, to review a judgment reversing a judgment for the United States, 41 F.2d 793, in an action against it to recover money paid under protest as capital stock taxes.