Trustees of Iowa College v. Baillie

I am unable to agree with the holding announced in the majority opinion and therefore I respectfully dissent.

I. In Division II of the majority opinion the question is asked, "Was the real estate `owned.' by Grinnell College * * * within the meaning of the exemption statute?" It continues with the statement: "The word `owned,' as used in said statute, means equitable or beneficial ownership rather than legal title." It cites the case of Ellsworth College v. Emmet County, 156 Iowa 52,135 N.W. 594, 42 L.R.A., N.S., 530, and therein quotes from the case of Montgomery v. Wyman, 130 Ill. 17, 22…