For Your Data Hutchinson National Banking Concern V. Dark-Brown Illustration Brief

Hutchinson National Bank v. Brown instance brief summary
753 P.2d 1299 (1988)

CASE SYNOPSIS

Appellant banking concern sought review of a judgment of the Reno County District Court (Kansas), which granted a declaratory judgment to appellee married adult woman on the number of whether a unilateral pledge of certificate of deposit (CD), every bit safety for a loan, held inwards articulation tenancy amongst her husband, severed the articulation tenancy when the married adult man pledged it prior to his death.

CASE FACTS
The married adult man pledged the CD every bit safety for a loan for his grandson without his wife's knowledge. After the married adult man died, the grandson filed a petition for bankruptcy. The banking concern filed suit, asking that the CD hold upwards applied to the grandson's loan.

PROCEDURAL HISTORY
The district courtroom denied the request, end that the pledge did non sever the articulation tenancy, that the married adult woman was non estopped to challenger the pledge, together with that the CD had passed to her gratis together with clear of the lien.

HOLDING

On appeal, the courtroom held that a articulation tenancy could hold upwards terminated:
(1) past times mutual understanding of parties;
(2) past times behave sufficient to dot that all parties had mutually treated their interests every bit belonging to them inwards common; or
(3) past times performance of constabulary upon devastation of whatsoever i or to a greater extent than of necessary unities.

DISCUSSION

The tape indicated that the parties did non mutually handgrip to sack articulation tenancy or to engage inwards behave that would dot that they both treated their involvement inwards the CD every bit belonging to them inwards common.
The courtroom found, however, that the pledge had destroyed i of the iv unities together with had acted every bit a severance of the articulation tenancy because at that spot was no legal distinction inwards the operative upshot of a mortgage or pledge.

CONCLUSION
The courtroom reversed the district court's judgment together with remanded the case.

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