First National Bank of Sleepy Eye v. Mohall State Bank

Defendant Dalton was, on September 15, 1914,-the owner of the land covered by the mortgage sought to be foreclosed. On that date he executed a mortgage which, through various assignments, was acquired by the plaintiff. It was a first lien. The JVIohall State Bank had a second mortgage, which it foreclosed in May, 1920, but a sheriff’s deed was not issued at the end of the redemption period. Plaintiff commenced this action to foreclose its first mortgage in March, 1922. On August 4, 1921, the defendant, American Investment Company, applied for a tax deed, and a tax deed was executed on or…