Hollis
Stephens, Partain & Cunningham v. Hollis
Opinion
Opinion
Sims, J.
—Defendants appeal from a judgment in an unlawful detainer action contending the trial court erroneously concluded plaintiff showed sufficient lawful title to the subject real property. Defendants assert, among other things, that plaintiff’s title is defective because it obtained title from a trustee of a deed of trust who had purchased the property at the trustee’s, own foreclosure sale. We conclude the trustee’s purchase was lawful and defendants’ other contentions are without merit. We shall therefore affirm the judgment.
Facts
In October 1979, defendants Albert and Mary Lee Hollis borrowed $36,000 against the equity in their home, securing the obligation by a second deed of trust on their property. Granite Home Loans, Ltd. (Granite) acted as the loan broker for this loan. Granite was also the named trustee on the second deed of trust.
In May 1981, the Hollises encountered financial problems caused by a drop in Mr. Hollis’s real estate agent business. The Hollises defaulted on the note secured by the second deed and a notice of default was recorded in July 1981. A notice of sale was later published and a trustee’s sale set for December 11, 1981. US Trust Deed…