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ABREGO v. UNITED PEOPLES FEDERAL SAV. & LOAN ASS'N

No. 83-251.

664 S.W.2d 858 (1984)

281 Ark. 308

Mary Ann ABREGO, Appellant, v. UNITED PEOPLES FEDERAL SAVINGS AND LOAN ASSOCIATION et al., Appellees.

Supreme Court of Arkansas.

Rehearing Denied March 12, 1984.

Attorney(s) appearing for the Case

Harper, Young, Smith & Maurras by Robert Y. Cohen, II, Fort Smith, for appellant.

Gregory T. Karber, Fort Smith, for Warner Holdings, Ltd. and Ruth Singer and Hymie Singer.

Phillip Jack Taylor, Fort Smith, for Larry A. Cotten and Brenda S. Cotten.

Warner & Smith by Joel D. Johnson and G. Alan Wooten, Fort Smith, for United Peoples Federal Sav. and Loan Ass'n.

DUDLEY, Justice.

In 1976 the Federal Home Loan Bank Board adopted a regulation which preempted state law governing due-on-sale clauses in mortgages. The primary issue before us is whether the doctrine of preemption is applicable to a mortgage executed prior to the 1976 regulation. We hold that the doctrine is not applicable and reverse the trial court. Collateral issues affecting property rights are raised and, for clarity, the opinion is developed by numbered segments...

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