Decorah State Bank v. Wangsness

NEUMAN, Justice.

This declaratory judgment action concerns the consequences flowing from a bank’s disregard for a former mortgagor’s statutory right to repurchase agricultural land under Iowa Code section 524.910(2) (1989). The trial court determined that a conveyance made in violation of the statute gives rise to an action for damages but not specific performance. On appeal, appellants argue they are entitled to the equitable relief they claim. We agree and reverse the district court.

Because the case was tried in equity, our review is de novo. Citizens Sav. Bank v. Sac City State Bank, 315…