Mullins v. Wilcox
Supreme Court of Arkansas
Appeal from Benton 'Chancery Court; T. if. Humphreys, Chancellor; 1. The Chrane mortgage is a first and prior lien. Appellees’ lien is barred by Kirby’s Digest, § 5399. 68 Ark. 348. An unrecorded extension agreement could not keep appellee’s mortgage lien alive against strangers. 45 S. W. 980; 64 Ark. 317; 42 S. W. 408. 1. The statute of limitations did not bar appellees’ mortgage lien because (1) the note was kept alive by written extension to’June 1, 1912, and (2) all the…
Read the full summary
Appeal from Benton 'Chancery Court; T. if. Humphreys, Chancellor; 1. The Chrane mortgage is a first and prior lien. Appellees’ lien is barred by Kirby’s Digest, § 5399. 68 Ark. 348. An unrecorded extension agreement could not keep appellee’s mortgage lien alive against strangers. 45 S. W. 980; 64 Ark. 317; 42 S. W. 408. 1. The statute of limitations did not bar appellees’ mortgage lien because (1) the note was kept alive by written extension to’June 1, 1912, and (2) all the transfers were made subject to appellees’ mortgage. Kirby’s Digest, § 5399; 68 Ark. 348; 92 Id. 522; 123 S. W. 646. 2.…
1Opinion of the CourtSmith, J.
Appellant purchased' a tract of land on April 29, 1912, without actual knowledge of a mortgage thereon which had been executed by her grantor. This mortgage was executed May 1, 1902, to secure the payment of a note due May 1, 1907. This mortgage had been duly recorded, but no payments of any kind were noted on the margin of the record, nor were there other marginal endorsements to indicate that any agreement had been made extending the time of payment of the debt there secured. An agreement in writing was made, how7 ever, between the mortgagor and mortgagee whereby the time of payment was…
2Cases cited1 opinion
- Austin v. SteeleSupreme Court of Arkansas · 1900
3Cited by3 opinions
- Gunnels v. Farmers' Bank of EmersonSupreme Court of Arkansas · 1931
- First National Bank v. GlassSupreme Court of Arkansas · 1917
- Little v. EvansSupreme Court of Arkansas · 1935