Gaumer v. Hartford-Carlisle Savings Bank

McGIVERIN, Chief Justice.

This appeal involves a dispute as to the sufficiency of an amount tendered by a junior encumbrancer to a senior encum-brancer under Iowa Code section 654.8 (1987). The district court ruled that the amount tendered was insufficient. We agree and affirm.

The case was tried in equity. The facts are not disputed. Our review is de novo. Iowa R.App.P. 4.

I. Background facts and proceedings. Martha Ellen Gaumer and her late husband each held an undivided one-half interest in four parcels of Iowa real estate. Two of the parcels together comprise 260 acres and are known as “the…