Sackadorf v. JLM Group Ltd. Partnership

In this appeal involving the priorities of several deeds of trust, we consider 1) whether a transaction structured as an assignment of a note and first deed of trust was in fact a payment and satisfaction by the deed of trust debtor that extinguished the first lien; and 2) whether modifications to the first deed of trust and other documents following the purported assignment, and physical changes made to the property by the deed of trust debtor, require that the junior lienors be advanced in priority.

Leonard Sackadorf, Dominic Foglio, Leo Wilder, and Lodging Consultants, Ltd. Pension Fund…