Vosburg v. Federal Land Bank of New Orleans

TALIAFERRO, Judge.

Plaintiff purchased from the widow and heirs of Willie Higginbotham, deceased, on March 1, 1929, a tract of land containing 227.9 acres, situated in Morehouse parish, which, together with 561.10 acres additional, Higginbotham had mortgaged to the Federal Land Bank of New Orleans to secure a loan originally for $24,000. In the act of sale, and as part of its consideration, plaintiff assumed and obligated himself to pay .365 per cent, of the balance due on said mortgage indebtedness, or the sum of $8,535.13. He leased the land to W. L. McGough for one-fourth of the crops…