Federal Land Bank of Omaha v. Heeren

McGIVERIN, Justice.

Defendants Harold and Mary Heeren appeal from district court approval of a receiver’s lease of their foreclosed real property to third parties when Heerens were not given the opportunity to lease the land under the same arrangement pursuant to Iowa Code section 654.14 (1985). Upon consideration of the issues raised on appeal, we affirm in part, reverse in part and remand the case for further appropriate proceedings in the receivership.

This case arose under a unique set of facts. On June 30, 1977, defendants Harold and Mary Heeren received a loan from plaintiff Federal Land…