What law governs a deficiency action if the choice-of-law provisions in the note and deed of trust conflict? The Arizona Court of Appeals answered that very question in ZB, N.A. v. Hoeller, No. 1 CA-CV 16-0071 (Ct. App. April...more
Real Property Update: - Lis Pendens/Subsequent Liens: lis pendens statute only serves to discharge liens that exist or arise prior to entry of foreclosure judgment but does not affect liens that arise after entry of...more
REAL PROPERTY UPDATE - Foreclosure/Unclean Hands: defense of unclean hands insufficient where borrower alleges bank’s loan officer inflated borrower’s income and assets to qualify for loan where borrower signed off on...more
REAL PROPERTY UPDATE - Foreclosure/Leave to Amend: borrower should have been granted leave to amend to assert affirmative defenses pursuant to motion filed 13 days before trial because there was no prejudice, the...more
REAL PROPERTY UPDATE - Foreclosure/Standing: party whose motion to intervene in foreclosure action was denied did not have standing to appeal final judgment of foreclosure – Market Tampa Investments, LLC. V Stobaugh,...more
By amending a statute that limits deficiency judgment amounts in certain cases, Nevada lawmakers have attempted to restore balance as the law applies to commercial properties. The amendments follow a recent wave of litigation...more
In a very recent decision, First California Bank v. McDonald, 2014 WL 5408418 (Cal. App.) (October 24, 2014), a California appellate court has determined that a lender’s consent from only one of its two borrowers to the...more
The recently issued opinion of the Colorado Court of Appeals, in Armed Forces Bank v. Hicks, 2014 COA 74. No. 13CA0875 (June 5, 2014), is significant for commercial real estate lenders. In Hicks, the Bank was the...more
In Enloe v. Kelso, 2013 WL 3357884 (2d Dist. 2013), the Second District Court of Appeal wrote a (characteristically) “short and sweet” opinion holding that the prohibition on obtaining a deficiency judgment under a deed of...more