Ivy v. Transamerica Title Insurance Co.

Plaintiffs Industrial Park Company (IPCO) and Ivy1 appeal from an ORCP 67B judgment that dismissed their negligence claim and gave defendant summary judgment on their breach of contract claim. We reinstate Ivy’s party status, reverse on the negligence claim and affirm on the contract claim.

This case arises out of a real estate transaction in which two persons intended to transfer two parcels of property by deed to IPCO. IPCO was then to give a mortgage on the two parcels to Commerce to secure a loan. In connection with the transaction, defendant was to insure Commerce’s interest in the…