Sheehan v. Aniello

On October 9, 1974, Mrs. Aniello and her husband conveyed by deed to Mrs. Sheehan and her husband three parcels of land in Wareham. Parcel One contained a residence. Parcels Two and Three are commercial property with a single building used as a grocery store on the two parcels. A savings bank in 1974 held a first mortgage on all three parcels, on which a balance of $20,431.61 was then due. The Sheehans assumed the first mortgage.

The Aniellos took from the Sheehans a note for $72,400 secured by a second mortgage (upon the statutory condition for any breach of which the mortgagee was to have…