Court of Appeals affirms Polk County decision in Boesen case
The Iowa Court of Appeals issued its ruling today in Freedom Financial Bank v. Estate of Edward Boesen et al. The Court upheld the priority of Freedom Financial's purchase money mortgage which the late Edward Boesen used to buy a commercial property in Ankeny. Citing century-old case law, the Court noted that prinicples of equity and fairness demand that the mortgage, which was used solely to purchase the property, be acknowledged.
