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MGIC MTG. CORP. v. BOWEN

No. 11405.

572 P.2d 547 (1977)

91 N.M. 200

MGIC MORTGAGE CORPORATION, Plaintiff-Appellee, v. Albert Gray BOWEN et al., Defendants-Appellees, ACRA, Incorporated, Defendant-Appellant.

Supreme Court of New Mexico.

December 21, 1977.

Attorney(s) appearing for the Case

Louis J. Vener, Albuquerque, for defendant-appellant.

Victor R. Ortega, U.S. Atty., Albuquerque, Timothy B. McBride, M. Carr Ferguson, Gilbert E. Andrews, Grant W. Wiprud, Karl Schmeidler, Asst. U.S. Attys. Gen., Tax Division, Dept. of Justice, Washington, D.C., for plaintiff-appellee.

OPINION

PAYNE, Justice.

This is an action to determine the rights to a surplus resulting from a mortgage foreclosure sale. The foreclosure was initiated by MGIC Mortgage against real property initially owned by the Bowens. The Bowens subsequently sold the property to the Lovatos by a real estate contract subject to the MGIC mortgage. After the payment of MGIC's claim, a surplus of $2,863.40 was deposited in the registry of the District Court of Bernalillo...

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