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SPRINGER CORPORATION v. KIRKEBY-NATUS

No. 8600.

453 P.2d 376 (1969)

80 N.M. 205

SPRINGER CORPORATION, also known as Springer Transfer Company, a New Mexico corporation, Plaintiff-Appellant, and Cross-Appellee, v. KIRKEBY-NATUS, United Venturers, Inc., First National Bank in Albuquerque, as Trustee, and Federated Mortgage Investors, Inc., a Trust, Defendants-Appellees, and Cross-Appellants.

Supreme Court of New Mexico.

April 21, 1969.

Attorney(s) appearing for the Case

Keleher & McLeod, T.B. Keleher, Russell Moore, Albuquerque, for appellant and cross-appellee.

Nordhaus & Moses, Thomas J. Dunn, Albuquerque, for appellees and cross-appellants.

OPINION

NOBLE, Chief Justice.

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 abstractor's error, Springer...

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