Moog v. Palmour

Frankum, Presiding Judge.

Where a contract for the sale of a described tract of realty provides that the fixed and definite purchase price of $704,500, as set forth therein, is to be paid as follows: Purchaser to buy subject to an existing first mortgage (which is fully described); that “This loan balance after January 1966 payment estimated at $555,000; seller to accept purchaser’s equity in property known as 2998 Grandview Ave., N.E. in the amount of $23,500; purchaser to pay cash in the amount of $22,000; seller to accept purchase money note and security deed on above property in the amount…