Syrek

Plaintiffs Marion and Harriette Syrek and George and Clara Purser appeal from the judgment entered against them in this action wherein they seek to recover the balances owing on two promissory notes executed by respondents Melvin and Helen Gould and secured by deeds of trust. Since all the pertinent facts were presented to the trial court by way of stipulation, the sole issue presented for consideration is one of law: whether or not the trust deeds are “purchase money” in character within the meaning of section 580b of the Code of Civil Procedure. We hold that the trial court erred when it answered this question in the affirmative.

In February of 1963, appellants Syrek and Purser owned lot 18 of tract 26576 located in the County of Los Angeles. Appellants Syrek also owned the contiguous lots numbered 19 and 20. On February 19, 1963, respondents Gould purchased these three lots from appellants for $7,500 each. They paid $2,500 of the purchase price for each lot in cash and gave their notes and trust deeds for the balances, i.e., a $5,000 note secured by a trust deed on lot 18 was given to the Syreks and Pursers jointly, and a $10,000 note secured by a trust deed on lots 19 and 20…