Vournas
Vournas v. Fidelity National Title Insurance
Opinion
Opinion
McDONALD, J.
J . — A successor trustee of an express trust (the trust) sued Fidelity National Title Insurance Company (Fidelity). The complaint alleged Fidelity negligently breached its duties to the trust. Fidelity obtained summary judgment. The successor trustee timely filed this appeal. We affirm the judgment.
I
Facts
In the mid-1980’s Mr. Skouras, the trustee of the trust, sold three parcels of trust real property. Fidelity was the escrow holder and title insurer for the sales and the trustee of deeds of trust securing purchase money notes payable to the trust that financed the sale of the properties to the buyers.
The trust provisions required Skouras to obtain consent of at least two of the trust beneficiaries before selling trust property. Skouras made all three sales without the knowledge or consent of the trust beneficiaries and diverted the sales proceeds to his own use.
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The Lawsuit
In 1994 the trust beneficiaries discovered Skouras’s unauthorized sales of trust properties. In October 1994 they removed Skouras as trustee and appointed a successor trustee. The successor trustee filed this action against Fidelity, seeking damages based on Fidelity’s alleged…