KANSAS OFFICE of
  REVISOR of STATUTES

  

Home >> Statutes >> Back


Click to open printable format in new window.Printable Format
 | Next

58-2305. Purchase money mortgage; priority. A mortgage given by a purchaser to secure the payment of purchase money shall have preference over a prior judgment against such purchaser.

History: G.S. 1868, ch. 68, ยง 4; October 31; R.S. 1923, 67-305.

Law Review and Bar Journal References:

The future advance mortgage, 1 W.L.J. 453, 460 (1961).

CASE ANNOTATIONS

1. Lien for purchase price created by express agreement. Smith v. Rowland, 13 K. 245.

2. Mortgage for purchase price takes priority over prior judgments. Babcock v. Jones, 15 K. 296; Plumb v. Bay, 18 K. 415; Holden v. Garrett, 23 K. 98; Jackson v. Reid, 30 K. 10, 1 P. 308.

3. Mortgage given third party for loan to pay vendor is purchase-money mortgage. Home Owners' Loan Corp. v. Humphrey, 148 K. 779, 784, 85 P.2d 7.

4. Cited; chattel mortgage for purchase price given priority over mechanics' lien. Finnegan v. Ihinger, 150 K. 357, 367, 92 P.2d 538.

5. Cited; mechanic's lien holder should secure personal judgment and foreclosure in same action. Home State Bank v. P.B. Hoidale Co., 239 K. 165, 166, 169, 718 P.2d 292 (1986).

6. Mechanic's lien attaching after execution but before recording of purchase money mortgage has priority where lienholder has no actual knowledge of mortgage. Shade v. Wheatcraft Industries, Inc., 248 K. 531, 536, 538, 809 P.2d 538 (1991).

7. Issue of purchase money mortgage having priority over judgment lien where mortgage used to purchase land and construct house examined. Resolution Trust Corp. v. Bopp, 18 K.A.2d 271, 272, 850 P.2d 939 (1993).

8. Cited; purchase money first mortgage takes priority over tax lien. American General Financial Services, Inc. v. Carter, 39 K.A.2d 683, 686, 687, 184 P.3d 273 (2008).

9. Bank's purchase money lien in debtor's fee interest in property did not have priority over first-filed lien arising from ground lease mortgage on same property. In re Black Angus Holdings, LLC, 434 B.R. 612 (2010).


 | Next

LEGISLATIVE COORDINATING COUNCIL
  12/18/2023 Meeting Notice Agenda
  LCC Policies

REVISOR OF STATUTES
  2023 New, Amended and Repealed by KSA
  2023 New, Amended and Repealed by Bill
  2024 Valid Section Numbers
  Chapter 72 Statute Transfer List
  Kansas School Equity & Enhancement Act
  Gannon v. State
  Information for Special Session 2021
  General Info., Legal Analysis & Research
  2022 Amended & Repealed Statutes
  2021 Amended & Repealed Statutes
  2020 Amended & repealed Statutes
  2019 Amended & Repealed Statutes

USEFUL LINKS
Session Laws

OTHER LEGISLATIVE SITES
Kansas Legislature
Administrative Services
Division of Post Audit
Research Department