Moon Realty Co. v. Arkansas Real Estate Co.

Frank Holt, Justice.

At a foreclosure sale appellant purchased certain real property belonging to two of the appellees, Arkansas Warehouse Corporation and Rose Courts. The foreclosure sale resulted from these two appellees’ default on a $70,000 note. At the time of the judicial sale, the total indebtedness of these appellees, including interest and costs, was approximately $113,000. Appellant paid $5,000 in excess of this amount at the foreclosure. The court’s order of foreclosure provided appellant with notice that the sale was subject to the United States’ right under 28 USCA § 2410 (c)…