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LOCO CREDIT UNION v. REED

No. 9747.

516 P.2d 1112 (1973)

85 N.M. 729

LOCO CREDIT UNION, Plaintiff-Appellee and Cross-Appellant, v. Fred A. REED and Janet Reed, Defendants-Appellants and Cross-Appellees.

Supreme Court of New Mexico.

December 14, 1973.

Attorney(s) appearing for the Case

Shipley, Durrett, Conway & Sandenaw, Wayne A. Jordon, Alamogordo, for defendants-appellants.

S. Thomas Overstreet, Almogordo, for plaintiff-appellee.

OPINION

OMAN, Justice.

Plaintiff, Loco Credit Union, brought suit against defendant, Fred A. Reed, to recover on a note executed on March 10, 1972, and to foreclose Loco's claimed interest in collateral purportedly pledged by Fred to Loco as security for payment of the note. Janet Reed, the former wife of Fred, claimed an interest in the said collateral, and, therefore, was made a party defendant. The collateral consisted of funds on deposit in a shares...

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