Northern State Bank v. Toal

This is an appeal from a judgment of foreclosure made and entered on July 11, 1973. The principal question raised on this appeal is, does a purchase money mortgage on real estate take precedence over judgments entered against the mortgagor prior to the acquisition of the real estate covered by the purchase money mortgage? We hold that such purchase money mortgage has priority over such prior judgments. Other questions raised by the appellant First National Bank of Appleton (First National) will be discussed in the opinion.

On November 9, 1967, the defendant-appellant took a judgment against…