American Holidays, Inc. v. Foxtail Owners Association
Wyoming Supreme Court
821 P.2d 577 (1991)
- Written by Laura Julien, JD
Facts
On January 6, 1981, a declaration of condominium for the Foxtail Condominium Project was filed. The declaration established the Foxtail Owners Association (the association) (defendant). The association was charged with maintaining common areas and levying assessments for its expenses. On September 16, 1984, Edward and Clara Meier executed a note and a mortgage with American Holidays, Inc. (plaintiff) for a unit within the Foxtail Condominium Project, which contained a provision that the note and mortgage were subject to the terms and conditions set forth in the declaration, which contained a provision requiring the subordination of subsequent encumbrances. On March 8, 1985. the mortgage was recorded. On December 1, 1985, the Meiers defaulted on their mortgage payments to American Holidays and failed to pay their dues to the association. On October 10, 1989, the association filed two notices of lien, and on January 30, 1990, the association filed a complaint for foreclosure naming the Meiers and American Holidays as defendants. On January 3, 1991, the trial court entered summary judgment of foreclosure and found American Holidays’ interest subordinate to the association’s interest. American Holidays appealed the trial court’s decision, asserting that because its mortgage was recorded prior to the association’s lien, the mortgage had priority status.
Rule of Law
Issue
Holding and Reasoning (Cardine, J.)
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