Carmel Financial Corp. v. Castro
Texas Court of Appeals
514 S.W.3d 291 (2016)
- Written by Eric Miller, JD
Facts
Carmel Financial Corporation, Inc. (Carmel) (plaintiff) financed the installation of a water-treatment system for a Texas homeowner at a cost of $5,990. Bank of America held a mortgage on the house. Carmel perfected a security interest in the water-treatment system by recording a fixture filing. The homeowner later defaulted on both the mortgage and the payments owed to Carmel. Bank of America foreclosed and transferred its rights in the property to the Department of Housing and Urban Development (HUD) (defendant). HUD offered Carmel $1,000 for the water-treatment system—less than the amount owed—which Carmel refused to accept. Stephanie Dickson (defendant) bought the house from HUD. Carmel brought an action against HUD and Dickson in state court. Carmel argued that its fixture filing attached to the real property and entitled Carmel to judicially foreclose on the property to obtain the amount owed. The parties moved for summary judgment. The court ruled in favor of HUD and Dickson, dismissing Carmel’s claims. Carmel appealed to the Texas Court of Appeals.
Rule of Law
Issue
Holding and Reasoning (Boyce, J.)
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