Security State Bank of Hannaford v. Harrington

VANDE WALLE, Justice.

Security State Bank of Hannaford (State Bank) appealed from a judgment granting Burt and Ruth Harrington’s request to cancel a contact for deed. We affirm.

Burt and Ruth sold 480 acres of farmland to their son, Gerald Harrington, and his wife, Nancy,1 under a contract for deed, dated September 29, 1975. A half-section was located in Griggs County and a quarter-section was located in Foster County. The agreement provided that Gerald and Nancy would pay $96,000 for the property in installments with 6% annual interest. The agreement more specifically provided that Burt and…