Leon Phillips v. Roy Jacobson

SUBSTITUTE OPINION.

THE COURT’S PRIOR OPINION FILED ON MARCH 29, 2013 IS HEREBY WITHDRAWN

J. Jones, Justice.

This is an appeal from an order setting aside a sheriffs sale of real property. The respondents, Earline Chance and Leon Phillips (collectively “Chance”), who are deed of trust beneficiaries and judgment creditors, failed to attend or bid at the sheriffs sale but claimed the successful bidder, appellant Roy Jacobson, obtained the property for a grossly inadequate price. The district court agreed and set the sale aside. We reverse.

I

FACTUAL AND PROCEDURAL HISTORY

Between February of 2005 and…