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FED. LAND BANK OF SPRINGFIELD v. TELLERDAY

89 A.D.2d 732 (1982)

Federal Land Bank of Springfield, Plaintiff, v. Charles L. Tellerday et al., Defendants; William A. Schmitt, as Trustee of Charles Tellerday, Respondent, and Eugene Chase et al., Appellants

Appellate Division of the Supreme Court of the State of New York, Third Department.

July 22, 1982

In June of 1975, plaintiff Federal Land Bank of Springfield received and recorded a $57,000 mortgage on the 369-acre farm of defendants Charles L. Tellerday and Mary Tellerday in Delaware County. Subsequently, on August 20, 1976, the Tellerdays conveyed their farm to defendant Nancy Adler, wife of their attorney Cyrus Adler, by two deeds wherein it was recited that the transfer was without consideration. Approximately six weeks later, on October 6, 1976, defendant Adler conveyed...

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