WILLIS v. NOWATA LAND AND CATTLE CO., INC.

No. 64719.

789 P.2d 1282 (1989)

Lloyd WILLIS and Charlotte Willis, Plaintiffs-Appellees, v. NOWATA LAND AND CATTLE COMPANY, INC., an Oklahoma Corporation, and John Gilmartin, an individual, Defendants-Appellants.

Supreme Court of Oklahoma.

Rehearing Denied April 30, 1990.


Attorney(s) appearing for the Case

Bill Ladd, and Kenn Bradley, Tulsa, for defendants-appellants.

Marion Dyer, Broken Arrow, for plaintiffs-appellees.


OPALA, Vice Chief Justice.

The dispositive issue for decision in this postconfirmation stage of foreclosure suit is whether there was error in denying mortgagor's (borrower's) quest for credit in the amount of insurance proceeds previously decreed to the lender (mortgagee). We answer in the negative and hold that the claimed indemnity payment for a fire loss is not available as credit on the judgment against borrower...

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