Arkin, the owner of Redacre, executed a real estate mortgage to the Shawnee Bank and Trust Company

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Arkin, the owner of Redacre, executed a real estate mortgage to the Shawnee Bank and Trust Company for $10,000. After the mortgage was executed and recorded, Arkin constructed a dwelling on the premises and planted a corn crop. After Arkin defaulted in the payment of the mortgage debt, the bank proceeded to foreclose the mortgage. At the time of the foreclosure sale, the corn crop was mature and un-harvested. Arkin contends that the mortgage should not apply to
(a) The dwelling and
(b) The corn crop. Explain whether Arkin is correct.

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Smith and Roberson Business Law

ISBN: 978-0538473637

15th Edition

Authors: Richard A. Mann, Barry S. Roberts

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