Collins v. Home Savings & Loan Assn.

The sole question involved in this litigation concerns the relative priority of the liens of a purchase-money trust deed held by respondents as sellers, and a deed of trust on the same land which was given to appellant as security for money advanced to the purchasers for construction purposes. Joined as defendants were the purchasers of the land and the contractor building on it (referred to hereinafter as the “Condon group’’), 1 the real estate brokers and various officers of corporate defendants. The action sought declaratory relief and an accounting, as well as damages based on fraud.…