Security Bank v. Zimlich's

Opinion op the Court by

Stanley, Commissioner

Affirming in part and reversing in part.

In April, 1933, Leo J. Zimlich’s assets were estimated at $15,444 and his liabilities at $33,477. He then executed mortgages on his real estate to secure debts to his relatives and an intimate friend. The Security Bank held a past-due note for $1,000 on which his brother was surety. It brought suit to set aside the mortgages and the conveyances hereinafter referred to as being fraudulent. Zimlich’s early subsequent death resulted in a suit to settle his estate, and in it the claims of the several creditors…