Miles Homes, Inc. of Iowa v. Grant

Thornton, J.-

— This is a case of first impression. The question is, is a mortgagee of a vendee a successor in interest as that term is used in section 656.2, Code of Iowa, 1962, and therefore entitled to notice of forfeiture before the mortgagee’s lien can be cut off?

Plaintiff is the mortgagee of the vendee in a real-estate contract. Defendant Gillman is the successor in interest to the vendor, defendant Home Federal Savings & Loan Association is Gillman’s mortgagee.

The real-estate contract was entered into December 14, 1957, it was filed for record July 20, 1959. Plaintiff’s mortgage is…