Republican candidate Derek Wulf's parents claim he owes them $275,000
A new pair of creditors has stepped forward to claim Republican lieutenant governor candidate Derek Wulf owes them hundreds of thousands of dollars: his parents.
In a court filing Tuesday, Duane and Jackie Wulf allege their son owes them about $275,000 in rent for farmland that has gone unpaid since 2024. The couple filed the petition in an effort to protect their assets as a bank pursues a foreclosure case against their son in connection with other unpaid debts.
Duane and Jackie Wulf also disputed their son's claim of outright ownership of some cows, calves and farm equipment listed among his assets in the bank's case. The couple said in their filing with the court that their son made "misrepresentations" about the assets, which were listed on financial documents he allegedly supplied to a lender.
Derek Wulf did not return a call seeking comment from the Des Moines Register. But a spokesperson for his running mate, Republican gubernatorial nominee Zach Lahn, said in an email that Wulf does not owe his parents rent.
"Sadly, Derek’s father has experienced serious health and memory issues in recent years," the spokesperson, Dan Capodilupo, said. "It’s painful for Derek to admit, but his father’s understanding of the situation is simply incorrect."
Reached by phone, Jackie Wulf declined to comment. The couple's attorney, Matt Craft, later said in an email that Jackie and Duane Wulf "are incredibly hurt by those categorically false statements concerning Duane’s health."
Iowa lieutenant governor candidate Derek Wulf speaks during Rep. Zach Nunn’s “Summer Sizzle” event at the Izaak Walton League Event Lodge on July 25, 2026, in Des Moines.
Wulf's parents join a list of farmers, agricultural suppliers and lenders who have accused Wulf, a state representative from Black Hawk County, and his company, Shallow Creek Land & Livestock, of failing to make debt payments. Since 2023, eight plaintiffs have sued Wulf or his company.
Wulf settled five of those lawsuits before Lahn picked him as his running mate after winning the Republican primary in June. He settled two more in July after an unidentified source loaned him $540,000 through a new Illinois limited liability company weeks after he joined Lahn's ticket.
A lawsuit filed by Webster City-based WCF Financial Bank remains active. The Black Hawk County Sheriff's Office also opened an investigation of Wulf earlier this year after WCF officials complained about how he allegedly disposed of livestock for which the bank held a security interest.
Campaign spokespeople previously said Lahn did not know about the criminal investigation at the time of Wulf's June 12 selection as his running mate. Since then Lahn has questioned the veracity of the investigation by the office of Sheriff Nathan Neff, a Democrat.
In August, Wulf's parents filed a lien against him. According to their recent petition, filed in connection with WCF's case against Wulf, the politician is more than two years behind on rent payments for farmland that Duane and Jackie own.
Real estate records show Wulf, the youngest of four siblings, purchased a home in rural Hudson from his father for $129,000 in 2006. His parents agreed to rent to him 83 acres of adjacent farmland.
Duane and Jackie Wulf, who are 83 and 82 years old, respectively, also own about 160 acres of farmland northeast of Derek Wulf's home. He farms on at least some of that land as well.
Capodilupo, the spokesperson for Lahn's campaign, said Derek Wulf has paid his parents "three times the market rental value" for the property. He added that Derek Wulf entered into a "handshake rent-to-own agreement" for the land with his father.
"Derek has honored that agreement to the letter, and has made every payment to date," Capodilupo said.
Matt Craft, Duane and Jackie Wulf's attorney, told the Register that the lien filing and the recent petition are the only formal actions that the couple have taken to try to recover funds. He also gave the Register a copy of a letter that the couple sent their son in July, informing him that they were ending their lease agreement with them.
"Duane and Jackie are unsure what land Derek expects to farm going forward," Craft said. "... He will not be farming any of the family land."
Nursery owner Chad Zoske herds baby pigs into their pens on Aug. 12, 2026, at his nursery outside of Eldora. He's among several creditors who say Republican lieutenant governor candidate Derek Wulf has failed to pay them.
Bank says Wulf more than a year behind on payments
WCF sued Derek Wulf in May, claiming he was more than a year behind on repaying lines of credit. The bank did not state in its petition how much money Wulf owed, but filings in the lawsuit indicate the debt reached about $3.8 million. The bank valued Wulf's assets at $2.9 million.
On Sept. 1, a judge ordered a receiver to take over Wulf's home and farm. The receiver wrote in a report a month later that Duane and Derek Wulf argued over who owned some livestock.
Duane Wulf claimed ownership of two Hereford cows that the receiver found on a lot next to Derek Wulf's home. Duane Wulf gave the receiver copies of two canceled checks that showed he paid his son $10,000 for the animals. However, according to the report, Derek Wulf disputed his father's claim and argued that the cows belonged to his daughter.
In their recent filing, Duane and Jackie Wulf said they own at least a partial interest in two other cows and four calves the receiver inspected. They also claimed at least partial ownership in four calves that have gone missing.
In addition, the couple claimed to own a 50% stake in equipment that appeared on their son's balance sheet as part of the receiver's report. The equipment included a skidloader, a spreader, a mower, two augers and two tanks.
"The basis of the confusion apparently stem(s) from misrepresentations by Derek on his balance sheets to (a bank)," Craft wrote in the filing.
Duane and Jackie Wulf conceded in their recent filing that the bank has priority over their son's assets. But they said that "to the extent that any surplus in the proceeds" exists if the bank liquidates Derek Wulf's home and farm, the extra money should go to them.
They took out mortgages for a total of about $1.8 million against some of their farmland in November 2021 and they are still repaying the debt.
Despite the fact that Derek Wulf's home and farm are in receivership, Capodilupo said Wednesday that "all creditors have been paid." He added that the candidate's effort to refinance his farm was "nearing completion."
"Derek expects to retain his property and assets and continue operating his farm as normal," Capodilupo said.
U.S. Sen. Chuck Grassley joins Republican gubernatorial candidate Zach Lahn at a campaign stop in Bondurant on Oct. 13, 2026.
