CIT Corporation v. United States

FINDINGS OF FACT AND CONCLUSIONS OF LAW

Plaintiff filed this action in inter-pleader in Superior Court of the City and County of San Francisco to facilitate the resolution of conflicting tax liens. The United States, the State of California and the County of Mendocino all assert claims against the insufficient assets of one William Van Pelt. The action was removed to this court upon petition of the United States pursuant to 28 U.S.C. § 1444 . The matter came before the court on May 26, 1972 on the motion of the United States for Summary Judgment. The following are the court’s findings of fact and conclusions of law:

FINDINGS OF FACT

1. On January 26, 1966, William Van Pelt was doing business in Ukiah, Mendocino County, California, as Van Pelt Logging.

2. On or about January 26, 1966, Van Pelt entered into a security agreement with plaintiff C.I.T. Corporation whereby certain items of personal property in possession of Van Pelt were to secure an indebtedness to plaintiff.

3. Van Pelt defaulted under the terms of the security agreement, plaintiff repossessed the aforementioned personal property, and sold the property at a public sale.

4. After the conclusion of the public…