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DAVIS v. SELTZER
Supreme Court of Pennsylvania.
Jan 2, 1934
Important Paras
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Taxes — Corporate taxes — Lien — Priority — Mortgage executed by predecessor in title of corporation — Time of assessment of taxes — Divesture of lien.
The lien of a mortgage upon premises owned by a corporation, executed by a predecessor in title of the corporation, is superior to a lien of the Commonwealth for capital stock and corporate loan taxes assessed against the corporation after the time the mortgage was given, and a foreclosure and sale of the premises under such mortgage divests the Commonwealth of its lien.
Argued December 7, 1933.
PER CURIAM, January 2, 1934:
The judgment of the court below, entered for want of a sufficient affidavit of defense, is affirmed on the opinion of Judge BROWN.
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