Advertisement

Kansas Court of Appeals to hear mortgage dispute

(MGN ONLINE)
Published: Aug. 4, 2020 at 3:52 PM CDT
Email this link
Share on Pinterest
Share on LinkedIn

TOPEKA, Kan. (WIBW) - The Kansas Court of Appeals will hear an oral argument over a mortgage dispute on Aug. 11, 2020.

The Kansas Court of Appeals says it will hear an oral argument over a mortgage dispute via videoconference on Tuesday, Aug. 11, which will be livestreamed on YouTube.

The Court says the presiding judge will be Judge G. Gordon Atcheson who will be joined by Judges David Bruns and Anthony Powell for the Aug. 11 docket.

The Court says the case in question is from Meade County where First Security Bank has filed to accelerate and foreclose a mortgage against David Buehne and Lindsay Buehne after defaulting on a commercial promissory note.

According to the Court, the promissory note gave the holder of the note the right to accelerate the unpaid balance of the note in the event of default without any demand or notice to the defendants and although the bank sent a demand to the couple on Aug. 17, 2006, the suit was not filed until May 21, 2014.

The Court says in a ruling on competing motions for summary judgment the district court found the note was not a payable-on-demand note when taking into context the terms of the loan agreement, and instead, ruled the bank took no affirmative step toward enforcing the option to accelerate until the suit was filed in 2014.

According to the Court, as a result, it rejected the defendants’ claim the suit was barred by the statute of limitations and on appeal claimed the district court erred in ruling the note was not a payable-on-demand note, finding First Security Bank took no steps to accelerate the note until 2014 and in finding the statute of limitations did not bar the lawsuit.

To follow what happens in this case watch the Court’s YouTube channel.

Copyright 2020 WIBW. All rights reserved.

Latest News

Latest News