58-2336.
Liens of mortgages securing loans upon real estate; providing for the securing of future advances; priority of lien.
Every mortgage or other instrument securing a loan upon real estate and constituting a lien or the full equivalent thereof upon the real estate securing such loan, according to any lawful or well recognized practice, which is best suited to the transaction, may secure future advances and the lien of such mortgage shall attach upon its execution and have priority from time of recording as to all advances made thereunder until such mortgage is released of record: Provided, That the lien of such mortgage shall not exceed at any one time the maximum amount stated in the mortgage.
History:
L. 1971, ch. 190, § 1; July 1.
Notes of Decisions
Mark Twain Kansas City Bank v. Cates, 810 P.2d 1154 (Kan. 1991).
· cites it 5× “9-1101 and K.S.A. 58-2336. K.S.A. 1990 Supp. 9-1101(4) states: “Every real estate loan shall be secured by a mortgage or other instrument constituting a lien, or the full equivalent thereof, upon the real estate securing the loan, according to any lawful or well recognized…”
First Nat'l Bank in Wichita v. Fink, 736 P.2d 909 (Kan. 1987).
· cites it 4× “” K.S.A. 58-2336 also provides for the securing of future advances in the following language: “58-2336.”
Halliburton Co. v. Bd. of Cnty. Commissioners, 755 P.2d 1344 (Kan. Ct. App. 1988).
· cites it 4× “may secure future advances and the lien of such mortgage shall attach upon its execution and have priority from time of recording as to all advances made thereunder until such mortgage is released of record: Provided, That the lien of such mortgage shall not exceed at any one…”
Old Colony Ventures I, Inc. v. SMWNPF Holdings, Inc., 924 F. Supp. 1076 (D. Kan. 1996).
· cites it 18× “Nothing in the joint venture agreement mandates deviation from the general priority rules established by K.S.A. §§ 58-2336 and 60-1101 when the joint venture’s obligations are paid.”
Fid. Sav. Ass'n v. Witt, 665 P.2d 1108 (Kan. Ct. App. 1983).
· cites it 3× “We are of the opinion K.S.A. 58-2336 controls. That statute provides: “Every mortgage or other instrument securing a loan upon real estate and constituting a lien or the full equivalent thereof upon the real estate securing such loan, according to any lawful or well recognized…”
In Re Black Angus Holdings, LLC, 434 B.R. 612 (Bankr. D. Kan. 2010).
“For example, see K.S.A. 58-2336, providing for priority of future advances from the *623 date of recording a mortgage when made pursuant to a future advance clause and the advances do not exceed the maximum amount stated in the mortgage.”
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