Safe Deposit & Trust Co. v. Wickhem

Citations

• 9 S.D. 341
• 69 N.W. 14
• 1896 S.D. LEXIS 167

Syllabus

<p>Two mortgages on the same property, to different persons, stipulated that the mortgagor should pay taxes, in default of which the same might he paid by the mortgagees, and thereupon become a part of the mortgage indebtedness. While these incumbrances were in force the property was sold for taxes, the purchaser thereafter receiving a tax deed from the county treasurer, who happened to be the junior mortgagee; and on the following day the latter, in his individual capacity, accepted from such purchaser a quitclaim deed of the premises, the arrangement for such transfer being made after the execution and delivery of the tax deed. Held, that the junior mortgagee, in the absence of any collusion between him and his grantor, acquired a good title, free from the lien of the senior mortgage.</p>