Tuft v. Federal Leasing

HALL, Chief Justice:

Defendants Federal Leasing and Bay-shore Inn appeal the trial court’s judgment quieting title in plaintiff J. Reed Tuft to a parcel of real property.

On March 27, 1964, defendants Wendell and Irene Butcher mortgaged a parcel of land to plaintiffs predecessor in title, Stre-vell-Paterson Finance Corporation (Stre-vell), to secure a promissory note. This note became delinquent on March 31, 1966. On November 2 of that year, the Butchers conveyed the parcel to Carnicero Dynasty Corporation (Carnicero) by warranty deed. Carnicero did not assume or agree to pay the Butchers’…