Wells Fargo Bank v. National Lumber Co.

Wells Fargo Bank (Wells Fargo) brought suit against National Lumber Company (National) seeking equitable subrogation of the mortgages granted by David Naginewicz (owner) on property located at 116 John Street in Ludlow (property). The Land Court allowed Wells Fargo’s motion for summary judgment, thereby placing its mortgage in a priority position. We conclude that fuller factual development regarding the equitable interests of both mortgagees is required and therefore reverse the decision of the Land Court.

1. Facts. The major parties are the plaintiff, Wells Fargo, as assignee; the defendant,…