Angels Alliance Group, LLC v. Recontrust Co.

MEMORANDUM

Angels Alliance Group, LLC (“AAG”) appeals the dismissal of its lawsuit challenging a completed nonjudicial foreclosure of real property. In December 2005, Anayansi Sprague (“Sprague”) obtained a loan for the purchase price of residential property situated in Milwaukie, Oregon (“the Property”). As security for the loan, Sprague executed a deed of trust, which provided that, in the event of default, the Property would be sold at a nonjudicial foreclosure sale, in accordance with the terms of the Oregon Trust Deed Act, Or. Rev.Stat. §§ 86.705-86.815 (“OTDA”). In July 2007, Sprague transferred her interest in the Property, via bargain and sale deed, to AAG, a now-defunct Nevada LLC with a principal place of business in Oregon. Sprague was the sole member of AAG.

The deed of trust delineated the following entities and their respective capacities: (1) Sprague was the “Borrower”; (2) Hyperion Capital Group was the “Lender”; (3) Ticor Title Insurance Company was the “Trustee”; and (4) Mortgage Electronic Recordation Systems, Inc. (“MERS”) was the “Beneficiary.” MERS later appointed ReconTrust Company, N.A. (“Recon-Trust”) as successor trustee in place of Ticor. Thereafter,…