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FEDERAL LAND BANK OF SPOKANE v. GLENN

87-05-31266; CA A50828.

785 P.2d 1069 (1990)

100 Or.App. 262

The FEDERAL LAND BANK OF SPOKANE, a Corporation, Plaintiff, and Robert S. Wayt, Successor in Interest, Appellant, v. Heber P. GLENN and Edythe Glenn, Husband and Wife; Hoff Lumber, Incorporated, an Idaho Corporation; United States of America, Acting through the Farmers Home Administration; First Interstate Bank of Oregon, N.A.; Pratt & Glenn Ranches, a Partnership Consisting of Ronald B. Pratt, Carol J. Pratt, Heber P. Glenn and Edythe Glenn; and Wade P. Bettis, Jr., Trustee of the Estates of Pratt & Glenn Ranches, Ronald B. Pratt, Carol J. Pratt, Heber P. Glenn and Edythe Glenn, Bankrupts, Defendants, Ronald B. Pratt and Carol J. Pratt, Husband and Wife, Respondents.

Court of Appeals of Oregon.

Decided January 24, 1990.

Reconsideration Denied March 30, 1990.

Attorney(s) appearing for the Case

Timothy R. Volpert, Portland, argued the cause for appellant. With him on the briefs were Phillip C. Querin, Peter A. Sergienko, and Ragen, Tremaine, Krieger, Schmeer & Neill, Portland.

David C. Baum, La Grande, argued the cause for respondents. With him on the brief was Helm, Baum & Riedlinger, La Grande.

Before JOSEPH, C.J., and RIGGS and EDMONDS, JJ.

JOSEPH, Chief Judge.

Appellant, who purchased property from the Federal Land Bank of Spokane (mortgagee) after it had foreclosed its mortgage, appeals from an order requiring the sheriff of Union County to issue to Pratt (mortgagor)1 a certificate of redemption. We vacate the order and remand.

On June 2, 1975, mortgagor and others gave a mortgage on ranch property in Union County to mortgagee. A stipulated foreclosure judgment...

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