IN THE MATTER OF THE ESTATE OF HELMA NEDDERMEYER, Deceased. EDWARD NEDDERMEYER, Intervenor-Appellant, vs. MARION NEDDERMEYER, Executor-Appellee.
State: Iowa
Docket No: No. 0-853 / 10-0963
Case Date: 12/22/2010
Preview: IN THE COURT OF APPEALS OF IOWA No. 0-853 / 10-0963 Filed December 22, 2010
IN THE MATTER OF THE ESTATE OF HELMA NEDDERMEYER, Deceased. EDWARD NEDDERMEYER, Intervenor-Appellant, vs. MARION NEDDERMEYER, Executor-Appellee. ________________________________________________________________ Appeal from the Iowa District Court for Crawford County, Edward Jacobson, Judge. Beneficiary under Helma Neddermeyers will appeals from the district courts interpretation of method required to execute an option to purchase under the will. AFFIRMED.
Bradley J. Nelson and Jennifer M. Zupp of Norelius & Nelson, P.C., Denison, for appellant. Bryan D. Swain of Salvo, Deren, Schenck & Lauterbach, P.C., Harlan, for appellee executor. Matthew J. Hudson, Harlan, for Gailen Neddermeyer. Derrick R. Franck of Mundt, Franck & Schumacher, Denison, for Marion and Larry Neddermeyer.
Considered by Mansfield, P.J., and Danilson and Tabor, JJ.
2 DANILSON, J. Helma Neddermeyer had five children: Edward, Denise, Marion, Larry, and Gailen, whom she named residual beneficiaries in her 2003 will. Article V of Helma Neddermeyers will provides: I hereby give to my son, Marion Neddermeyer, the first option to purchase the following described real estate . . . upon the following terms and conditions: (1) The price of the real estate under this option shall be sixty-five percent (65%) of the appraised value, not special use value, established for Iowa Inheritance purposes in my estate. (2) My executor is authorized to make said sale for cash. (3) This option shall be executed within six (6) months from the date of my death or the same shall be null and void. This right to this option may be declined by Marion Neddermeyer by filing in the Court having jurisdiction of my estate a written notice of his intent not to exercise the option. Once this declination is filed with the Clerk of said Court, the option shall be void and shall not be reinstated. (4) This option is personal to my son, Marion Neddermeyer, and shall not be assignable to any other party and shall not survive him. (5) Notice of his intention to exercise the option shall be filed in writing with the Clerk of Court having jurisdiction of my estate. Article VI contains identical terms for an option to purchase different property by Larry. Helma died on January 25, 2009, and on February 4, 2009, her will was submitted for probate in Crawford County. Marion was appointed executor. On July 20, 2009, Marion filed a "Notice of Intention to Exercise Option to Purchase Real Estate Under Terms of Will." On December 20, 2009, Marion filed an "Application for Real Estate Purchase By Executor," with an offer to purchase the property for $647,920. Edward resisted the application to purchase, contending although notice of intent to exercise his option was filed by Marion "in compliance with condition five of the option, there was no ,,execution of the option by him."
3 The district court overruled the resistance and approved the sale by the estate to the executor. Edward appeals. What did Helma mean when she stated that an option to purchase had to be "executed" within six months of her death? The district court concluded that in context, the term meant Marion had to file his notice of intent to exercise his option within the six-month period. Edward Neddermeyer contends something more was required. This appeal involves a determination of the parties rights and obligations in property devised by will. The proceeding is equitable in nature, and our review is de novo. Iowa Code
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