Schwartz v. Oakland County Sheriff

Allegheny Engineering, Inc., owned certain lots in the city of Southfield, Michigan, when on February 18,1959, it gave a first mortgage thereon to James Y. Rine. On June 30, 1959, Allegheny deeded the property to Dorchester Homes, Inc., subject to the mortgage which the grantee assumed and agreed to pay.

Thereafter on October 31,1960, Dorchester Homes, Inc., gave a second mortgage on the premises to the plaintiffs. This second mortgage came in default and was foreclosed by the plaintiffs by advertisement and the sheriff held a mortgage sale on September 14, 1962, at which the plaintiffs…