Federal Land Bank of Columbia v. Johnson

Tbe deed of trust to Frelinghuysen, trustee, was a first lien upon tbe whole property. Tbis lien was properly foreclosed. Consequently, tbe purchaser at such sale, nothing else appearing, acquired a fee-simple title, unaffected by subsequent encumbrances. Hence, as tbe defendant Denning held no security but a junior lien, bis security disappeared, as there is no evidence and no finding that any surplus resulted from tbe sale.

Denning, however, contends and asserts that Eifie Johnson and her husband, Z. M. Johnson, executed purchase money notes to the Commercial Land Company, which said notes…