The state’s highest court has sided with former Governor Terry Branstad’s brother in a dispute with his aunt. The Iowa Supreme Court has ruled that Monte Branstad had an oral agreement with his aunt — Jeanne Garland, who lives in California: he would manage her real estate properties in Forest City and in return, he would not have to pay the interest on a 100-thousand dollar loan she made him in 1990. Branstad’s aunt argued there had been no verbal agreement, but the Court Justices noted that neither Branstad nor his aunt claimed any part of the money he was paying her was interest when they filled out their tax returns. The aunt started foreclosing on the note in 1998. The Supreme Court has decided that’s when the falling-out occurred and Monte Branstad stopped managing or maintaining his aunt’s properties, so that’s the point at which Branstad should start paying interest on the loan.
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