(Download) "Springer Corp. v. Kirkeby-Natus" by New Mexico Supreme Court # eBook PDF Kindle ePub Free
eBook details
- Title: Springer Corp. v. Kirkeby-Natus
- Author : New Mexico Supreme Court
- Release Date : January 21, 1969
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 60 KB
Description
Kirkeby-Natus (hereafter termed Kirkeby) foreclosed its first mortgage covering 403 acres of lands securing an indebtedness of $521,458.11, bidding in the land for $323,625.00, and obtained a deficiency judgment for $197,833.11. Springer Corporation (hereafter termed Springer) held a second mortgage on 94.96 acres of the land mortgaged to Kirkeby, securing an indebtedness of $77,800.00. By reason of an abstractors error, Springer was not made a party to the Kirkeby foreclosure. Springer then brought this action to foreclose its second mortgage. Kirkeby, in this suit, by counterclaim, was granted foreclosure of its first mortgage against Springer. Springer was held entitled to redeem from the Kirkeby foreclosure, within nine months after the date of the judgment in this case, but only upon payment of the full amount paid by Kirkeby for the entire 403 acres bought at the foreclosure sale - $323,625.00, plus $13,041.07, being the unpaid balance of the deficiency judgment. Springer has appealed. The cross-complainants have likewise appealed.
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