Valley Title Co. v. Parish Egg Basket, Inc.

Plaintiff Valley Title Company commenced an interpleader action, seeking a determination as to which of several defendants was entitled to certain surplus funds remaining following a trustee’s sale under a first deed of trust on certain real property. Two of. the named defendants, Parish Egg Basket, Inc. (hereafter “Parish”) and R. Cali and Bro. (hereafter “Cali”) filed answers and cross-complaints asserting their respective rights to the funds in question. The trial court rendered a judgment awarding the funds in question to Cali, and Parish has appealed.

The facts are undisputed and may be. summarized as follows: In 1965, Anselmo and Gaetana Azzaro and Frank and Velma Costantino were the owners of certain real property located in Santa Clara County. On June 25, 1965, the Azzaros and Costantinos executed a deed of trust in favor of Merlin and Janice Bohnett in the amount of $74,500. The deed of trust was recorded on July 1, 1965.

On August 16, 1967, declarations of homestead on the Santa Clara County property were executed by Anselmo Azzaro and Frank Costantino and recorded.

On'March 28, 1968, Parish recorded an abstract of judgment in the amount of $3,880.42 against…