First-Citizens Bank & Trust Co. v. Cornerstone Homes & Development, LLC

¶1 Daniel L. and Jeanne Allison, guarantors of three commercial promissory notes issued by Cornerstone Homes & Development LLC, appeal the superior court’s judgment on the pleadings, ordering them to pay a deficiency following a nonjudicial trustee’s sale of Cornerstone’s properties that secured the notes with construction deeds of trust. The Allisons argue that (1) these construction deeds of trust also secured their commercial guaranty obligations; and (2) the antideficiency provisions of the “Washington Deed of Trust Act”1 prohibit a deficiency judgment against a guarantor when, as here,…