Burmeister v. Schultz

The primary issue presented on the instant appeal is whether the agreement executed by the parties released the obligations created by the note and mortgage.

The trial court construed the agreement to release the note and mortgage because in its opinion “... a mortgage is such an interest in property that it must be recorded in the same manner that a conveyance is recorded. It does give a certain type of real property right. ... A mortgage such as the one involved here becomes a claim on the land and if properly recorded binds every purchaser with the knowledge that there is a claim on the…