Far West Savings and Loan Association v. McLaughlin

201 Cal. App. 3d 67 (1988)

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Far West Savings and Loan Association v. McLaughlin

California Court of Appeal
201 Cal. App. 3d 67 (1988)

Facts

Frederick Geiger owned a piece of real property. On July 8, 1982, Geiger executed a deed conveying the property to GTB Properties (GTB). On August 3, 1982, GTB borrowed money from Mary McLaughlin (defendant) in exchange for a deed of trust on the property (GTB deed of trust) and recorded the deed of trust a week later. On July 1, 1983, several things happened in the following order. First, the July 8, 1982, deed conveying the property from Geiger to GTB was recorded. Second, a deed conveying the property from GTB to Thomas and Jean Stapleton was recorded. Third, a purchase-money deed of trust on the property, in which the Stapletons were trustors and Far West Savings and Loan Association (Far West) (plaintiff) was the beneficiary, was recorded. The Stapletons defaulted on their purchase-money loan from Far West, and Far West began foreclosure proceedings. McLaughlin then informed Far West that she planned to foreclose pursuant to the GTB deed of trust. Far West filed an action seeking a judgment that any lien McLaughlin had was subordinate to Far West’s lien. The trial court found that Far West had priority over McLaughlin, and McLaughlin appealed.

Rule of Law

Issue

Holding and Reasoning (Croskey, J.)

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