Gill
Gill v. Frances Inv. Co.
Opinion
Lead Opinion
Gilbert, J.
(after stating the facts as above). We are not convinced that it was error to deny the appellants’ motion to dismiss the suit for want of juris *883 diction. It is contended that, while the bill was framed with the appellee, a citizen of Utah, as complainant, and against all of the defendants, including the trustee, as citizens of California, the trustee should have been aligned as a co-complainant, in which case the requisite diversity of citizenship would be lacking. It is to be observed that the deed to the trustee, while it conveys the legal title, also vests in the “legal holder of the note” the power to declare the note payable on default of interest, and in case of foreclosure the power in the “then legal holder” to have a receiver appointed to take possession of the property described in the conveyance.
Is the trustee an indispensable party? The court below was of the opinion that, by virtue of the default entered in the Torrens proceeding, the trustee had been judicially foreclosed of any right or interest in the property, and that it was immaterial whether it was in or out of the case. It is true that the presence of a trustee of property conveyed as security for the…