Citizens State Bank v. Wiseman

The opinion of the court was delivered by

Dawson, J.:

This lawsuit was based on the obligation of a purchaser of real estate by his acceptance of a deed reciting that the property was conveyed subject to mortgages which the grantee assumed and agreed to pay.

It appears that prior to August, 1923, three persons named Wise-man owned 640 acres of land in Phillips county. The land was subject to a first mortgage for $21,500 held by a trust company, and a second mortgage for $16,200 held by the Citizens State Bank, of Kensington, plaintiff herein.

On August 29,1923, the Wisemans traded this land…