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DREESEN v. LECKBAND

No. 90-1245.

479 N.W.2d 620 (1991)

John L. DREESEN, Plaintiff-Appellant, v. Lawrence W. LECKBAND, Margae Farms, Inc., Defendants, and Sheldon Production Credit Association of Sheldon, Iowa; Production Credit Association of the Midlands; and Farm Credit System Capital Corporation, Defendants-Appellees.

Court of Appeals of Iowa.

November 26, 1991.

Attorney(s) appearing for the Case

William A. Shuminsky of Shuminsky, Shuminsky & Molstad, Sioux City, for plaintiff-appellant.

Bernard L. Spaeth, Jr. and Thomas R. Pospisil of Whitfield, Musgrave & Eddy, Des Moines, for defendants-appellees.

Considered by SCHLEGEL, P.J., and HAYDEN and HABHAB, JJ., but decided en banc.

HABHAB, Judge.

In 1978, Harold G. and Leola Ann Reiter entered into a written real estate contract with Larry Leckband. Subsequently, Leckband assigned his interest to Margae Farms, of which he was the primary shareholder and chairman of the board. The assignment was never recorded.

In May 1982, Leckband, in his individual capacity, assigned his interest in the property to the Sheldon Production Credit Association...

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