Welsch v. Lee

VOGEL, District Judge.

This is an action to foreclose a real estate mortgage. The facts pertinent to a decision of the legal questions involved are as follows :

In 1923 the original mortgagors executed promissory notes and a mortgage on the land involved. The mortgage and notes were purchased by the present holders, represented by the plaintiffs in this action. Shortly after the execution of the notes and mortgage the land covered by the mortgage was conveyed to the Farmers State Bank of Christine subject to the mortgage referred to, which the Bank assumed and agreed to pay. In 1925 the Farmers…