Watts v. Lundeen

P. O. Unumb was the mortgagee in two real estate mortgages of $2,000 each, one of which he assigned to the Farmers State Bank of Hoffman and the other to the Farmers State Bank of Brandon. The mortgagor conveyed the fee to Unumb, the deed reciting the in-cumbrances. Unumb on October 4, 1921, sold the property to plaintiff on contract for deed for P,500 and he went into possession. At that time the mortgages were recorded, but the assignments were not. Plaintiff asked Unumb about the title and was assured it was all right. Unumb assigned his contract for deed and the notes, therein mentioned,…