Federal Land Bank of Omaha v. Faught Bros., Inc.

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 is whether a right to levy for the deficiency became lost. The trial court held it did not and determined that general…