Lewis v. Investors Leased Group II

Defendants Dicob and Douglas County Title Company (Douglas Title) appeal from a judgment reinstating a cancelled trust deed, of which plaintiffs are the beneficiaries, and giving it priority over Dicob’s trust deed on the same real property. We affirm.

In February, 1987, plaintiffs purchased a high interest note from defendant Investors Leased Group II (ILG). The note was secured by a trust deed on the real property in question that was recorded in March. Lester Jones was the controlling principal of ILG, and also controlled Southern Oregon Mortgage, Inc. (SOMI). Plaintiffs were aware of…