Crosby v. Tanner
Supreme Court of Iowa
Appeal from Butler District Cornet. ActioN to foreclose a mortgage given to secure a note executed by defendant, O. K. Tanner, to Frances B. Tanner. Another mortgage, upon the same property, was afterward executed to defendant, Melliop, who claims, because of an agreement entered into by Frances B. Tanner to cancel the first mortgage, bis security is the prior lien.
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Appeal from Butler District Cornet. ActioN to foreclose a mortgage given to secure a note executed by defendant, O. K. Tanner, to Frances B. Tanner. Another mortgage, upon the same property, was afterward executed to defendant, Melliop, who claims, because of an agreement entered into by Frances B. Tanner to cancel the first mortgage, bis security is the prior lien. The cause was referred, and upon the import of the referee a decree was entered declaring Melhop’s mortgage the paramount lien. Plaintiff appeals. The further facts in the case appear in the opinion.
1Opinion of the CourtBeck, J.
Frances B. Tanner, being still the holder of the note, upon sufficient consideration agreed with defendant Mel-hop to cancel the mortgage which is the foundation of this action.. This however was never done. Subsequently, and after the maturity of the note, the payee transferred it to Baker who in turn indorsed it to plaintiff. The mortgage was also assigned to plaintiff by an instrument duly recorded. Neither plaintiff’nor Baker had knowledge of the agreement between Frances B. Tanner and Melhop, for the cancellation of the mortgage.
Melhop now claims that as the note and mortgage were…
2Cases cited1 opinion
- Burtis v. Cook & SargentSupreme Court of Iowa · 1864
3Cited by10 opinions
- Bowles v. OakmanMichigan Supreme Court · 1929
- Mohr v. ByrneCalifornia Supreme Court · 1901
- Vandercook v. BakerSupreme Court of Iowa · 1878
- Raymond v. WhitehouseSupreme Court of Iowa · 1903
- Theisen v. DaytonSupreme Court of Iowa · 1891
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