1978 Corolla Liftback transmission

[Randalla]

I recently picked up a very nice rust-free survivor and have started to sort out a few issues with it. The car has an automatic transmission that screeches loudly if left in neutral for even a second. When shifting from park to reverse or quickly all the way into drive I don't hear the screech. Otherwise the transmission shifts and operates correctly. I'm new to older Corolla's so I'm not sure where to start looking. I was told by the previous owner that he's driven it this way for 5 years and that he believed it had something to do with a linkage adjustment. Any thoughts at all would be appreciated

 

[Oldschool65]

I can tell you from experience that tranny is just waiting to fail
And if and when it does there are no hard parts to be found in America.
Japan is your only choice and its gonna be expensive .