Kendall v. Thirlwell

CULLEN, Commissioner.

Insurance Investors Trust Company, Inc. (hereinafter referred to as the “debt- or”) owned three tracts of land and held a leasehold interest under a long-term lease in a fourth tract. The four tracts were contiguous. In a creditors’ suit against the debtor, judgment was entered directing á sale of the debtor’s interests in all four tracts. The judgment determined that the interests were indivisible and ordered that they be sold as a single unit. Kathryn Kendall, a stranger to the creditor’s suit, was the highest bidder at the sale, at the sum of $69,000. However, she…