FEDERAL LAND BANK v. FAUGHT BROS.

Nos. 89-907, 90-303.

468 N.W.2d 793 (1991)

The FEDERAL LAND BANK OF OMAHA, Appellee, v. FAUGHT BROS., INC., an Iowa Corporation; Roger D. Faught; David A. Faught; Gary G. Faught; Audrey Faught, Appellants, and Worth County, Iowa, Defendant. The FEDERAL LAND BANK OF OMAHA, Appellee, v. Audrey FAUGHT and Dorothy E. Faught, Husband and Wife; Gary Gilbert Faught a/k/a Gary G. Faught and Deloris L. Faught, Husband and Wife; Faught Brothers, Inc., Appellants, and First State Bank of Manly, Iowa, and United States of America—Commodity Credit Corporation, Defendants. The FEDERAL LAND BANK OF OMAHA, Appellee, v. Audrey FAUGHT and Dorothy E. Faught, Husband and Wife; and Roger D. Faught and Donna Faught, Husband and Wife, Appellants.

Supreme Court of Iowa.

Review Denied May 9, 1991.


Attorney(s) appearing for the Case

David M. Nelsen of Nelsen Law Office, Mason City, for appellants.

Rodney P. Kubat and August B. Landis of Whitfield, Musgrave & Eddy, Des Moines, for appellee.

Considered by HARRIS, P.J., and LARSON, SCHULTZ, CARTER, and LAVORATO, JJ.


HARRIS, Justice.

The question is whether, in these special circumstances, a mortgagee can proceed with a general execution for a deficiency remaining after a special execution to foreclose on mortgaged farmland. A complicating factor in the dispute is an automatic stay of these proceedings resulting from a bankruptcy proceeding instituted by the borrower. That fact obliged the mortgagee for a time to forego any action beyond foreclosing on the land itself. The dispute...

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