Bedrosian
Paykar Construction, Inc. v. Bedrosian
Opinion
Opinion
Hastings, J.
Plaintiff and appellant Paykar Construction, Inc., appeals from a postjudgment order denying its motion to determine fair market value in connection with a judicial foreclosure. The sole issue on appeal is whether the three-month period to file the motion pursuant to Code of Civil Procedure section 726, subdivision (b) begins when the foreclosure sale occurs or when the certificate of sale is recorded. We conclude that the three-month period begins when the highest bid is made at the sheriff’s auction, and affirm.
Facts
In 1991 G. David Bedrosian and Mardiros Mihranian executed a $190,000 promissory note in favor of appellant, secured by trust deeds on homes they owned with their wives. The Bedrosians’ home is in La Canada and the Mihranians’ home is in Glendale.
Bedrosian and Mihranian later defaulted on the note. After appellant elected to declare the entire balance due, Bedrosian and Mihranian executed an amendment to the promissory note providing that they would pay $25,000. The check they gave appellant bounced.
In 1992 appellant filed a complaint for judicial foreclosure against the Bedrosians and the Mihranians, and appellant recorded a lis pendens.