Nichols v. Ann Arbor Federal Savings & Loan Ass'n

Defendant Ann Arbor Federal Savings and Loan Association held a mortgage on certain real estate located in the City of Brighton owned by Mr. and Mrs. Kempf. The mortgage contained a provision that allowed defendant to demand immediate payment of the entire mortgage debt if there was any change in ownership of the property.

Approximately six months after the execution of the mortgage, the Kempfs sold the property in question to the Nichols on land contract. Defendant then accelerated the mortgage indebtedness and commenced foreclosure proceedings by publication. The Kempfs and the Nicholses…