Slattengren & Sons Properties, LLC v. RTS River Bluff, LLC

OPINION

WRIGHT, Judge.

In this dispute as to the priority between two purchase-money mortgages, appellant argues that the district court erred by concluding that appellant’s mortgage is junior to respondent’s mortgage when appellant’s mortgage was recorded first, respondent’s predecessors-in-interest had notice of appellant’s mortgage, and respondent’s predecessors-in-interest failed to ensure that their mortgage was recorded first. We reverse and remand.

FACTS

On December 12, 2003, RTS River Bluff, LLC, borrowed $2,300,000 from appellant The RiverBank to purchase and develop three tracts of real…