Rehabbers Financial v. Chicago Title Ins. Co. CA5

STATEMENT OF THE CASE

Appellant Rehabbers Financial, Inc., doing business as Aztec Financial, appeals from the trial court’s grant of summary judgment in favor of respondent Chicago Title Insurance Company. Aztec brought this action on a title insurance policy issued by Chicago Title Insurance, claiming it is liable for a delinquent Rosamond Community Services District assessment senior to Aztec’s deed of trust. The trial court determined Aztec’s claim was not covered by the policy and barred by the statute of limitations. We affirm as to the statute of limitations and need not reach any other issue.

FACTS

A. The Parties Appellant Rehabbers Financial, Inc., doing business as Aztec Financial (“Aztec”), is a commercial lender owned and operated by Joel and Carrell Hoffman. Respondent Chicago Title Insurance Company (“CTIC”) underwrites and issues title insurance policies. Chicago Title Company (“CTC”) is a non-party to this lawsuit implicated as CTIC’s agent and prepares title searches, title examinations, title reports, certificates, or abstracts of title which CTIC uses to write title policies. B. The Roland and Patterson Properties The Roland and Patterson properties…