Gibraltar Savings Ass'n v. Martin

BOYD, Justice.

Appellants First Gibraltar Bank, FSB (Gibraltar), assignee of the Federal Savings & Loan Insurance Corporation (FSLIC) in its capacity as receiver for Gibraltar Savings Association, and First City Bank of Northline (First City), bring this appeal from a summary judgment in favor of ap-pellee J.D. Martin, III (Martin). We reverse the judgment and remand for trial on the merits.

The following facts are uncontroverted. On September 7, 1979, Martin acquired the property here in question from M.V. Davis and Joanne R. Stover. In that instrument, a vendor’s lien was retained to secure a…