Lumbermen's Mortgage Co. v. Stevens

The rights of the parties to this litigation do not seem difficult of ascertainment. The Lumbermens Mortgage Company had the second mortgage on the premises and as it was not made a party to the foreclosure proceedings its rights were not in any way affected thereby, being neither enlarged nor diminished. The National Bank of Port Clinton, which held the first mortgage and became the purchaser of the property at sheriff’s sale, retained all its rights as mortgagee for the protection of its title and when it conveyed the property by warranty deed to Leon E. Stevens and Clifton A. Stevens, they…