Huismann v. Althoff

On March 1, 1915, the appellee, Weert Huismann, and his wife executed the mortgage in question, to secure a note for $13,500, due March 1, 1920, payable to the order of William Althoff, at the First National Bank of Ellsworth, Minnesota. The note represented a part of the purchase price of the mortgaged premises, a farm in Lyon County, Iowa, purchased from Althoff by Huismann. William Althoff, the payee of the note, died October 15, 1915, and the appellant Kate Althoff, his widow, and the beneficiary under his will, became the owner of the note and mortgage. Appellant and her husband moved…