SIMARD V. BURSON
14 A.3d 6 (2011)
NATURE OF THE CASE: Simard (D) appealed a judgment which held him liable for the shortage
between the original sale price of foreclosed property and the eventual resold price of the
property to a third purchaser.
FACTS: Burson (P), Substitute Trustees under a Deed of Trust, sold Property D for
$192,000. D failed to go to settlement. Stan Zimmerman then purchased the Property for
$163,000, but he too failed to go to settlement after the court ratified the sale. In June
2008, JBJ Real Estate LLC ('JBJ') purchased the Property for $130,000, and completed the
sale after ratification by the court. P allocated the cost of the difference D's price of
$192,000 and the Second Resale price of $130,000 to be paid by D. D he should be liable for
only the shortage between the Original Sale price of $192,000 and the First Resale price of
$163,000. The circuit court ratified the audit, and denied D's motion for reconsideration. D
appealed.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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