Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

FARMERS NATIONAL BANK PENNSBURG v. KERN (ET AL. (03/22/61)

March 22, 1961

FARMERS NATIONAL BANK OF PENNSBURG
v.
KERN (ET AL., APPELLANT).



Appeal, No. 429, Oct. T., 1960, from order of Court of Common Pleas of Montgomery County, Sept. T., 1958, No. 31, in case of Farmers National Bank of Pennsburg v. Norman Kern et al. Order affirmed.

COUNSEL

Franklin H. Spitzer, with him Wolf, Block, Schorr and Solis-Cohen, for appellant.

Harry N. Moran, Jr., with him J. B. Hillegass, and Hillegass & Moran, for appellee.

Before Rhodes, P.j., Gunther, Wright, Woodside, Ervin, Watkins, and Montgomery, JJ.

Author: Wright

[ 194 Pa. Super. Page 480]

OPINION BY WRIGHT, J.

We are here concerned with a dispute over the distribution of the proceeds of a sheriff's sale of real estate tate on a writ of fieri facias. The sheriff's schedule of distribution, after providing for costs and taxes, called for payment of the entire balance to the Farmers National Bank of Pennsburg, hereinafter referred to as Farmers, on whose judgment the writ had issued. Exceptions were filed by the Commonwealth Land Title Insurance Company, hereinafter referred to as Commonwealth, on the ground that its lien, although subsequent on the record, should be prior in distribution to a portion of the judgment of Farmers. On July 14, 1960, the court below, one judge dissenting, dismissed the exceptions. Commonwealth has appealed. The facts are not in dispute, and are set forth in the adjudication of Judge FORREST as follows:

"1. Defendants, Norman Kern and Edythe Kern, formerly owned certain premises on Hendricks Road, Kratz Station, Lower Frederick Township, Montgomery County, Pennsylvania.

"2. On June 10, 1953, defendants executed and delivered a mortgage upon said premises in favor of Olney Federal Savings and Loan Association in the sum of $5,000. The mortgage was duly recorded on June 10, 1953 in the office of the Recorder of Deeds of Montgomery County, Pennsylvania in Mortgage Book 2451 page 559.

"3. On January 20, 1956, defendants borrowed $3,500 from the plaintiff, Farmers National Bank of Pennsburg and established a line of credit with the Bank, with a $20,000 limit. They executed and delivered a judgment note of $20,000 as collateral for the loan and line of credit. The loan was increased and reduced on several occasions in 1956. The outstanding balance in August, 1956 was $20,000. On September 14, 1956, the plaintiff recorded the judgment note

[ 194 Pa. Super. Page 481]

    in Judgment Docket B-7, page 325, which judgment became a lien on the defendants' property.

"4. On February 27, 1957 defendants purchased certain real estate in Upper Salford ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.