Amstar/First Capital, Ltd. v. McQuade

John E. Jennings, Chief Judge.

This is a mortgage foreclosure case. The sole issue presented is whether a certain view easement takes priority over a prior recorded mortgage. The chancellor held that it did, but we cannot agree and therefore reverse.

In March of 1988, Big “K” Development Corporation borrowed $1.2 million from First Federal Savings of Arkansas for the purpose of establishing a residential development in West Little Rock. A mortgage to secure the indebtedness was filed on March 21, 1988.

In August of 1988, Big “K” deeded Lot 40 of the development to Roddy J. and Martha McCaskill.…