State Bank v. Marty

The opinion of the court was delivered by

Hopkins, J.:

This controversy involves the priority of mortgage liens. The facts summarized from the court’s findings are substantially as follows:

On May 28,1918, Charles F. Booth, the then fee owner, for a consideration of $3,680, conveyed a tract of land mentioned herein as the “Booth quarter,” by warranty deed to the defendant Marty, who, on the same date, gave Booth a mortgage back for $1,840. Both the deed and mortgage were recorded May 29, 1918. On September 24, 1918, Marty gave the defendant Rule a mortgage of $1,400 on the same and other lands,…