Caffarelli Bros. v. Pearce

On October 21,1913, the land involved was conveyed by its then owner, Kraft, to Friesenhahn and Albrecht, jointly, in consideration, in part, of their vendor’s lien note for $4,000, maturing January 1, 1919.

On March 27, 1922, Friesenhahn conveyed his undivided interest in the land to his co-owner, Albrecht, who, in part consideration therefor, assumed in said conveyance to pay said outstanding $4,000 note. On the same day Albrecht gave a deed of trust upon the land to secure her $2,000 obligation to a third party, Giesler, whose lien, thus secured, was junior to the vendor’s lien to secure…