Farmers Production Credit Association v. McFarland

Daniel and Linda McFarland's property was subject to a senior mortgage held by American Federal Savings & Loan (AFS) and a junior mortgage held by Production Credit Association (PCA) (plaintiff); after AFS foreclosed and bought the property at a sheriff's sale subject to PCA's lien, the McFarlands had an exclusive three-month period to redeem. Within that window, Dorothy McFarland, the McFarlands' assignee, tendered a redemption check; about a month later, PCA also tried to redeem, arguing Dorothy's earlier redemption had extinguished its own junior lien. The trial court held PCA was entitled to redeem the property from Dorothy despite her earlier redemption.