Investors of Nevada Realty, Inc. v. Nevada State Bank

*34OPINION

The principal issue presented by this appeal from an order granting summary judgment is whether payment of a secured indebtedness with the proceeds of a credit life insurance policy inured to the benefit of the insured’s estate or to an assuming purchaser of the property covered by the insurance. The district court held that payment inured to the benefit of the estate. We agree.

Bobbie Skerce purchased a mobile home. It was financed by the Nevada State Bank for approximately $10,000.00. Skerce obtained a fully paid life insurance policy for the amount of the loan with the Bank as…