Legal Opinion
Gramercy Investment Trust v. Lakemont Homes Nevada, Inc.
California Court of Appeal
Decided August 24, 2011No. E051384PublishedCited by 9 opinions
1Opinion of the Court
Opinion
RAMIREZ P. J.
Following a foreclosure proceeding which resulted in a deficiency, plaintiff Gramercy Investment Trust (Gramercy) sued to recover the unpaid balance of a real estate mortgage loan, naming as defendants Lakemont Homes Nevada, Inc., and Lakemont Communities Nevada, LLC (collectively referred to as Lakemont), who were the guarantors of the loan. Gramercy made a motion for summary judgment for the full balance of the unpaid loan, approximately $31 million, without adjusting for the fair market value of the property following the collapse of the real estate market. The trial…
2Cases cited32 opinions
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- Wash. Mut. Bank v. Superior Court of Orange Cty.California Supreme Court · 2001
- Nedlloyd Lines B v. v. Superior CourtCalifornia Supreme Court · 1992
- Artiglio v. Corning Inc.California Supreme Court · 1998
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3Cited by9 opinions
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