Legal Opinion
Money Store Investment Corp. v. Summers
Indiana Supreme Court
Decided June 27, 2006No. 02S03-0508-CV-355PublishedCited by 16 opinions
1Opinion of the Court
On Petition to Transfer from the Indiana Court of Appeals, No. 02A03-0404-CV-170
SHEPARD, Chief Justice.
Junior creditors usually wish they were higher up the priority ladder. Here, the junior creditor took an assignment of the first mortgage holder’s “dragnet” mortgages, seeking to “tack on” her judgment lien and “leapfrog” the second mortgage holder. Understandably, this constitutes a matter of first impression. Our conclusion: this was a nice try, but the original parties to the dragnet mortgages did not intend to secure a subsequent debt owed by the mortgagor to a third party.
Facts and…
2Cases cited12 opinions
- City of Crown Point v. Lake CountyIndiana Supreme Court · 1987
- Merchants National Bank & Trust Co. of Indianapolis v. H.L.C. Enterprises, Inc.Indiana Court of Appeals · 1982
- New v. SailorsIndiana Supreme Court · 1888
- Financial Acceptance Corp. v. GarveyMassachusetts Appeals Court · 1978
- Porter v. Bankers Trust Co. of CaliforniaIndiana Court of Appeals · 2002
7 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Moryl v. RansoneIndiana Supreme Court · 2014
- Town of New Chicago v. City of Lake Station Ex Rel. Lake Station Sanitary DistrictIndiana Court of Appeals · 2010
- Hannum Wagle & Cline Engineering, Inc. d/b/a HWC Engineering, Inc., Marlin A. Knowles, Jr., Jonathan A. Day, Tom Mobley, and David Lancet v. American Consulting, Inc.Indiana Court of Appeals · 2016
- Keesling v. T.E.K. Partners, LLCIndiana Court of Appeals · 2007
- MONEY STORE INVESTMENT CORP. v. SummersIndiana Court of Appeals · 2009
11 more not listed; retrieve them via the Exa API.