CLS Mortgage, Inc. v. Bruno

CLS Mortgage, Inc. (CLS), Opportunity Management Company, Inc. (OMC), and Bud and Marlene Gatlin (Gatlin) individuals, sued State Farm Fire and Casualty Company for breach of an insurance contract. Both parties moved for summary judgment. The court granted summary judgment in favor of State Farm. CLS, OMC, and Gatlin appeal contending summary judgment was improper because: (1) CLS retained an insurable interest in the property requiring coverage; (2) the assignment of the Deed of Trust from CLS to OMC and Gatlin did not alter the risk to State Farm thereby relieving them of coverage; and (3)…