Earle Investments, LLC v. Southern Desert Medical Center Partners

OPINION

JOHNSEN, Judge:

¶ 1 We address in this case the effect of broadly written subordination agreements a landowner executed in support of deeds of trust that secured loans made to the owner of some commercial condominium units situated on the owner’s land. We conclude the subordination agreements functioned as conveyances of the landowner’s interest in the encumbered property, and vacate and remand the superior court’s judgment to the extent it is inconsistent with that conclusion.

FACTS AND PROCEDURAL BACKGROUND

¶ 2 In January 1974, Duane P. Alternan, on behalf of Du Paul Ltd. (“Du Paul”),…