Chase Manhattan Bank v. Principal Funding Corp.

WILKINS, Justice:

¶ 1 Principal Funding Corporation (“PFC”) appeals the trial court’s entry of judgment in favor of the plaintiffs, Chase Manhattan Bank (“Chase”) and MP Ventures, L.C. (“MP Ventures”), declaring that PFC held no valid judgment lien against a certain parcel of real property and quieting title in the property in favor of MP Ventures. We reverse.

BACKGROUND

¶ 2 MP Ventures owns an interest in real property located on Lincoln Street in Salt Lake City (“subject property”). In 1994, the subject property was owned by Lan England. England became a judgment debtor in April of 1994 when a…