DeKeyser v. State Bank of Maplewood

Eschweiler/ J.

The plaintiffs’ position in substance is, that inasmuch as the prior mortgage to the Bank of Algoma of $3,600 covered the property included in their subsequent mortgages and sixty acres in addition thereto, and such sixty acres being sold by the mortgagor prior to the sale on foreclosure, (though subsequent to the judgment therein), *66the doctrine of sales of mortgaged premises in the inverse order of alienation required that the proceeds from the sixty-acres, so sold in January, 1925, at a paper price of $3,600, should be applied on the first mortgage, thereby relieving to that…