Beach Community Bank v. Spellman

Beach Community Bank (“Beach Bank”) seeks review by certiorari of the trial court’s order granting the motion of Shua-ney Irrevocable Trust (“Shuaney”) to allow sale of collateral property. Beach Bank argues that, by requiring it to give up its mortgage, the tidal court’s order violates a constitutionally-pi-otected property interest. We agree and grant the petition.

Beach Bank filed a complaint seeking to foreclose mortgages on several parcels of real property owned by Shuaney. While Beach Bank’s foreclosure action was pending, Shuaney entered into contracts to sell two of the mortgaged…