Angelo Galantino, and Mary Galantino, Below v. Alessio M. Baffone, Jr., and Nancy M. Baffone, Below

Summary

The Supreme Court of Delaware held that a claimant seeking purchase-money-mortgage priority under 25 Del. C. § 2108 need not establish that status solely from the four corners of the recorded mortgage. The recorded deed and mortgage may establish the identity and timeliness requirements, and a rebuttable presumption establishes the purpose requirement when the loan is less than the purchase price. Because the sellers’ mortgage met those requirements and contained no subordination provision, the court reversed and remanded the Superior Court’s contrary ruling.