The Continental Insurance Company of New York, New York, a Corporation v. Richard B. Cotten

CHAMBERS, Circuit Judge:

On January 27, 1966, a house at 924 Oleander Avenue, Bakersfield, Califor nia, burned down. It was occupied by-Mrs. Peggy Lawrence under a lease (badly in default) which contained an option to purchase for $25,000. The property was subject to a California security deed of trust in the face amount of $23,500. This had been executed by Richard B. Cotten and Madelyn M. Cot-ten, record owners of the property and lessors of Mrs. Lawrence. The Cot-tens are among the plaintiffs-appellees herein. The deed of trust names Kern County Title Company as trustee and Lloyd L. Roe, M.…