Shattuck v. Ellas

Citations

• 65 Kan. 298
• 68 P. 1092
• 1902 Kan. LEXIS 44

Syllabus

<p>Mortgages — Purchaser at Judicial Sale Held, not an Innocent Party. Several mortgages covering the same property were made to the same party at the same time, it being expressly provided in them that the one for $1000 was a first lien. The mortgagee assigned it and the second mortgage, which assignments were not recorded, and afterward foreclosed the third mortgage without making the holders of the other mortgages parties. At the foreclosure sale a third party bought the property for one-fourth of its value. The holder of the first mortgage instituted this foreclosure proceeding, and the court found that the purchaser at the previous foreclosure sale knew, at the time of the sale, that the mortgage for $1000 was prior to the one under which he bought, and knew that the mortgagee had sold and assigned it, and held that the purchaser bought the property subject to the mortgage for $1000. Held, not error.</p>