Walley v. P.M.C. Investment Co.
California Court of Appeal
262 Cal. App. 2d 218 (1968)
- Written by Daniel Clark, JD
Facts
Somebody (the litigant) sued Eura Stephens and obtained a monetary judgment. Four days after the litigant recorded the judgment, Stephens purchased a piece of real property and executed a purchase-money deed of trust in favor of P.M.C. Investment Company (PMC) (defendant) to secure a loan covering a portion of the purchase price. The deed of trust was recorded one month after the judgment lien against Stephens was recorded. The litigant later obtained a writ of execution to enforce his judgment lien. The litigant held an execution sale at which Schoettler purchased the real property. Schoettler then conveyed the property to Jack Walley (plaintiff). Walley brought an action to quiet title to the property. The court held that Walley held title free of any claim by PMC, and PMC appealed.
Rule of Law
Issue
Holding and Reasoning (Files, J.)
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