Legal Opinion
Demers v. Federal Land Bank of Omaha
District Court, D. South Dakota
Decided November 10, 1987No. Civ. 87-3034PublishedCited by 1 opinion
1Opinion of the Court
MEMORANDUM OPINION
DONALD J. PORTER, Chief Judge.
On January 28, 1975, Dennis and Shirley DeMers [DeMers] mortgaged their 1199 acre farm in Tripp County, South Dakota to the Federal Land Bank of Omaha [FLB], After DeMers defaulted on the loan, FLB foreclosed the mortgage and obtained a Final Judgment of Foreclosure on June 11, 1986 for $127,254.36. On July 25, 1986, the property was sold to FLB at a sheriffs sale for'$129,672.37, and FLB obtained a sheriffs certificate of sale.
Under South Dakota law, DeMers had until July 25, 1987 to redeem the property. The property has not been redeemed. On…
2Cases cited8 opinions
- Butner v. United StatesSupreme Court of the United States · 1979
- In Re Joseph C. Taddeo and Ellen A. Taddeo, Debtors. Elfriede Di Pierro v. Joseph C. Taddeo and Ellen A. Taddeo and Richard J. McCord Interim TrusteeCourt of Appeals for the Second Circuit · 1982
- Johnson v. First National BankCourt of Appeals for the Eighth Circuit · 1983
- Valente v. Savings Bank of RockvilleDistrict Court, D. Connecticut · 1983
- In Re RiceUnited States Bankruptcy Court, D. South Dakota · 1984
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3Cited by1 opinion
- In Re Century Investment Fund VIII Ltd. PartnershipUnited States Bankruptcy Court, E.D. Wisconsin · 1990