Millsap v. Faulkes

On May 27, 1944, plaintiff contracted to sell for $8,450 a residence property in Cedar Rapids which had been his homestead since 1924. The purchaser paid $500 down -and agreed to pay the balance of $7,950 when merchantable abstract of title and warranty deed were ready for delivery. A month later the purchaser took possession. In July 1942 defendant Faulkes had recovered a judgment against plaintiff for $1,585. The debt on which the judgment was based arose within two years from its rendition. In March 1939' plaintiff had mortgaged his homestead for $5,500 to a savings and loan association.…