1 S.D. 539 | S.D. | 1891
This action was brought by appellant to foreclose a mortgage upon real estate in the county of Spink, made by said respondent Anderson to appellant Miller, on the 11th day of March, 1886, and duly recorded in the office of the register of deeds of said Spink county on the 22d day of April, 1886. The complaint is in the usual form, and alleges as to the defendant Spinli county: ••Sixth. That the defendant Spink county claims to have some interest in said property, or lien thereon by virtue of an assessment for taxes against said defendant Peter J. Anderson for the year 1887 and for the year 1888, while said Anderson was the owner of the equity of re
Since'the argument of this case the supreme court of Iowa
The construction of this section claimed for it by respondent might, and probably would, in many cases impair, if not totally defeat, pre-existing liens taken in good faith, and in strict pursuance of the most ca: eful business methods. A long-time mortgage, for a considerable portion of the purchase money of a farm, is taken, and such instances are not rare. It might not be unreasonable to say, as suggested in the majority opinion in the Iowa case, that the mortgagee should see to it that he has sufficient margin to protect himself against the
We should have much confidence in our conclusions as to the correct interpretation of this section, upon considerations