Industrial Trust Company v. Hanley

This bill in equity is before us on the appeal of respondent Hanley from a decree of the Superior Court declaring that a mortgage held by the complainant on a certain farm be a lien prior to the lien of a mortgage held by respondent Hanley.

In July, 1925, respondent Tucker acquired title to the farm subject to a-first mortgage of $1,900. At the same time she obtained from James L. Pettis, testator of respondent Hanley, a loan of $2,800, and gave as security a second mortgage on the same premises. About four years thereafter the holder of the first mortgage demanded payment.

The complainant,…