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GAGEN v. BANKERS TRUST COMPANY

No. 49981.

103 N.W.2d 743 (1960)

Linnie Rachael GAGEN, Incompetent, by J. O. Rosecrans, her guardian, Appellant, v. BANKERS TRUST COMPANY, Herman M. Aalders and Maxime D. Aalders, Appellees.

Supreme Court of Iowa.

June 14, 1960.

Attorney(s) appearing for the Case

Norman D. Elliott, C. D. Reed, Des Moines, for appellant.

Gamble, Read, Howland, Gamble & Riepe, Des Moines, for appellee Bankers Trust Co.

Clarence I. Spencer, Des Moines, for appellees Aalders.

HAYS, Justice.

In 1954 a trust agreement was entered into between Linnie R. Gagen and Bankers Trust Company, Des Moines, Iowa. In accord therewith a residence property located at 3309 Center Street, Des Moines, then owned by Mrs. Gagen, was conveyed to the Trust Company, as trustee, as security for a loan of $2,500 and for future advances to be made by the trustee to Mrs. Gagen. Thirteen payments of $60 per month were later made to her. The agreement granted broad...

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