PRODUCTION CREDIT ASS'N OF MINOT v. KLEIN

Civ. No. 11085.

385 N.W.2d 485 (1986)

PRODUCTION CREDIT ASSOCIATION OF MINOT, Plaintiff and Appellee, v. Gerald A. KLEIN and Bernadette Klein, Defendants, and Adam Axtman and Margaret Axtman, Defendants and Appellants.

Supreme Court of North Dakota.

April 10, 1986.


Attorney(s) appearing for the Case

Pringle & Herigstad, Minot, for plaintiff and appellee; argued by John J. Petrik.

Joseph A. Turman, Fargo, for defendants.

McGee, Hankla, Backes & Wheeler, Minot, for defendants and appellants; argued by Donald L. Peterson.


GIERKE, Justice.

Adam and Margaret Axtman appeal from a summary judgment setting aside a conveyance of land from Gerald and Bernadette Klein to them as a fraudulent transfer. We reverse.

On August 1, 1972, the Axtmans, Bernadette Klein's parents, conveyed approximately 780 acres of land in Pierce County to the Kleins by warranty deed for $78,000. As security for payment of the purchase price, the Axtmans received a mortgage deed from the Kleins which set forth...

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