State ex rel. Talley v. Jones

HATHAWAY, Chief Judge.

This is an appeal from an order of the Superior Court directing payment from the “real estate fund,” A.R.S. § 32-2188, also called the “real estate recovery fund.”

The plaintiff below, Carrie C. Jones, an elderly widow, decidéd to invest her life’s savings in real estate mortgages. She became involved in two transactions wherein she transferred a total of $31,000 to Frannea Realty and Trust Company, a corporation solely owned and operated by M. A. Frannea and his wife, Genevieve C. Frannea. ’The Franneas executed promis*174sory notes to Mrs. Jones, totaling $31,000, and…