Legal Opinion
Farmers State Bank v. Neese
Appellate Court of Illinois
Decided May 9, 1996No. 4-95-0509PublishedCited by 21 opinions
1Opinion of the CourtJustice Garman
This appeal involves the relative priority of the rights of the Internal Revenue Service of the United States (IRS) and Farmers State Bank (bank) to the proceeds from a foreclosure sale of property which a debtor was purchasing under a real estate installment contract. The trial court gave the IRS lien for unpaid tax priority over the bank’s interest as assignee of the buyer’s rights as security for a loan. We affirm.
I. BACKGROUND
In July 1989, Thomas and Susan Neese contracted to buy real estate in Pike County, Illinois, from Walter and Wilma Wade on installments, for a total purchase price…
2Cases cited30 opinions
- Aquilino v. United StatesSupreme Court of the United States · 1960
- United States v. City of New BritainSupreme Court of the United States · 1954
- United States v. BessSupreme Court of the United States · 1958
- Slodov v. United StatesSupreme Court of the United States · 1978
- United States Ex Rel. Internal Revenue Service v. McDermottSupreme Court of the United States · 1993
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3Cited by21 opinions
- Aames Capital Corp. v. Interstate Bank of Oak ForestAppellate Court of Illinois · 2000
- Federal National Mortgage Ass'n v. KuipersAppellate Court of Illinois · 2000
- Spain v. Owens Corning Fiberglass Corp.Appellate Court of Illinois · 1999
- TCA International, Inc. v. B & B Custom Auto, Inc.Appellate Court of Illinois · 1998
- Union County v. Merscorp, Inc.Court of Appeals for the Seventh Circuit · 2013
16 more not listed; retrieve them via the Exa API.