Apache Land & Cattle Co. v. Franklin Life Ins.

The Apache Land & Cattle Company, a Colorado corporation, hereinafter called “Apache,” appeals from a summary judgment in a suit by Apache to quiet title to certain lands in Apache County, Arizona, holding Apache has no interest in such lands and that the fee simple title is in appellee, the Franklin Life Insurance Company, an Illinois corporation, hereinafter called “Franklin.”

It is agreed that Franklin, in a suit by it' as a foreign corporation to foreclose a mortgage on the lands on the nonpayment of a loan secured by the mortgage, obtained a judgment of foreclosure of the lands and a deed from the sheriff of Apache County. It is agreed that the deed transferred the title to the lands to Franklin, unless the foreclosure proceeding is not res judicata of the right of Franklin to make the loan and accept the mortgage.

Franklin’s motion for the summary judgment appealed from was based upon the verified exhibits accompanying the motion. These are copies of the judgment in the foreclosure suit, the execution and order of sale, the sheriff’s return thereon, the sheriff’s certificate of sale, the sheriff’s deed, the complaint of Apache, the answer of Franklin, and Apache’s reply.…