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BROWN v. FIRST NAT. BANK IN LENOX

No. 88-1168.

844 F.2d 580 (1988)

Walter Marlin BROWN and Burdean Ruth Brown, Appellants, v. FIRST NATIONAL BANK IN LENOX, Appellee.

United States Court of Appeals, Eighth Circuit.

Decided April 21, 1988.

Attorney(s) appearing for the Case

Marlyn S. Jensen, Osceola, Iowa, for appellants.

Pamela D. Griebel, Des Moines, Iowa, for appellee.

Before ARNOLD and WOLLMAN, Circuit Judges, and ROSS, Senior Circuit Judge.

ARNOLD, Circuit Judge.

The appellants, Walter Marlin Brown and Burdean Ruth Brown, are the farmer-debtors in this proceeding under the newly enacted Chapter 12 of the Bankruptcy Code, 11 U.S.C. §§ 1201 et seq. The appellee, First National Bank in Lenox, has a security interest in a contract for deed under which the debtors have been buying a piece of real property. The question presented is whether a contract for deed is to be classified for purposes of...

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