SMS Fin., LLC v. CBC Fin. Corp.

Justice Himonas, opinion of the Court:

INTRODUCTION

¶1 Does the doctrine of equitable conversion operate to protect a buyer of real property's interests in the land from a seller's creditors from the time the buyer's contract is capable of specific enforcement? In a well-reasoned decision, the district court determined that the Real Estate Purchase Contract (REPC) at issue was an executory real estate contract and, as such, it was "subject to the equitable conversion doctrine." Thus, the district court concluded that the seller's creditor was unable to attach a judgment lien to land that the…