US Bank, N.A. v. JPMorgan Chase Bank, N.A.

OPINION

JOHNSEN, Judge:

¶ 1 In this dispute between two lenders, we address the doctrines of “replacement” and equitable subrogation as they apply to respective lien rights. We affirm the superior court’s application of the replacement doctrine to a claim by US Bank, N.A. for declaratory relief. We vacate the court’s application of equitable subrogation and remand for entry of judgment in favor of JPMorgan Chase Bank, N.A. (“Chase”) on US Bank’s second claim for declaratory relief. We also remand for consideration of US Bank’s remaining claims.

FACTS AND PROCEDURAL BACKGROUND

¶ 2 In 1997,…