LaPlaca v. Schell

In April 1991, defendants purchased a 10-acre parcel of land from Joseph Clark and Colleen Clark, assumed the Clarks’ outstanding note and mortgage, and began making payments to Calvin Ayers, Jr. and Ann Marie Ayers, who were the Clarks’ *1479mortgagees. In 1994, defendants agreed to convey approximately five acres of the property to plaintiff in exchange for plaintiffs payment of $11,000 to the Ayers’ on defendants’ behalf to satisfy the mortgage. Upon receipt of the funds from plaintiff, the Ayers’ assigned the mortgage to plaintiff by instrument recorded in June 1994, and also issued a…