[DOWNLOAD] "Southwest State Bank v. Quinn" by Supreme Court of Kansas " Book PDF Kindle ePub Free
eBook details
- Title: Southwest State Bank v. Quinn
- Author : Supreme Court of Kansas
- Release Date : January 04, 1967
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 58 KB
Description
The opinion of the court was delivered by This is a mortgage foreclosure action on real estate owned by a bankrupt corporation. Our principal concern is whether the statutory right of redemption under K.S.A. 60-2414 (a) is exempt property. The facts are not in dispute. Jones-Mack, Inc., a Kansas corporation, owned the property subject to the two mortgages mentioned later. On October 14, 1964, prior to the foreclosure proceeding, Jones-Mack leased the premises to Gunstocks, Inc., a corporation, and Earl Welch for a term of four years at a stipulated monthly rental. The lessees have continued to occupy the premises, paying the rent therefor. Thereafter the appellee, Southwest State Bank, as plaintiff, commenced this action against Jones-Mack in the district court of Jefferson county by filing a petition to foreclose its mortgage on the property. The Bank of Perry filed a cross-petition to foreclose its mortgage on the same property. Neither mortgage contained a provision whereby the mortgagor, Jones-Mack, Inc., waived the statutory period of redemption.