Coweta Fertilizer Co. v. Kiser Co.

1. Section 3286 of the Civil Code (1910) provides how mortgages of personalty shall be foreclosed. Section 3291 provides that “if other fi. fas. are levied on the mortgaged property, and the same is sold, the mortgage fi. fa. may nevertheless claim the proceeds of the sale if its lien is superior.” While it is true that, where property is sold under a judgment, the lien of which is superior to that of a subsequent unforeclosed mortgage, the entire interest being legally subject to the levy, the holder of such an unforeclosed inferior mortgage is entitled to have his rights established, under…