CAPITOL FEDERAL SAVINGS & LOAN ASSOCIATION V. SMITH
136 Colo. 265, 316 P.2d 252 (1957)
NATURE OF THE CASE: This was an action to quiet title. Appealed.
FACTS: The Smiths (P) owned a lot in a subdivision. Before P purchased their lost,
several lot owners in the subdivision, including P's predecessor in title entered into a
restrictive covenant which provided that no person subject to the covenant would sell their
land to blacks. The covenant stated that it was binding on the signatories' heirs and
assigns, and that, in the event the covenant was breached, the land would be forfeited to
the other persons who were parties to the covenant. P, who were black, filed suit to quiet
title in themselves. Other lot owners who were parties to the covenant (D) argued that they
were the owners of P's lot pursuant to the provisions in the covenant. The trial court found
that P were the owners of the lot free and clear of any claim or interest asserted by D. The
court further found that the covenant was violative of the Fourteenth Amendment, and was
unenforceable. D Appealed, arguing that the agreement at issue did not create a restrictive
covenant, but an executory interest, which vested automatically upon the occurrence of the
event stated in the agreement. D further argued that the failure of the trial court to
recognize that they had a vested interest in the land amounted to an unconstitutional
taking, entitling D to just compensation.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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