Security Transactions—Priority—Federal Tax Liens and Future Advance Mortgages

Authors

Beverly J. Rosenow

Abstract

In American Surety Co. v. Sundberg the Washington Supreme Court made a startling encroachment upon the sanctity of a secured mortgage. Using the United States Supreme Court's test of "choateness," the court held that the lien of a mortgage securing future advances is subordinate to federal tax liens filed subsequent to the filing of the mortgage, but prior to advances for which the lien was claimed.

First Page

206

Recommended Citation

Beverly J. Rosenow, Washington Case Law, Security Transactions—Priority—Federal Tax Liens and Future Advance Mortgages, 37 Wash. L. Rev. 206 (1962).
Available at: https://digitalcommons.law.uw.edu/wlr/vol37/iss2/15