First Bank of Lincoln v. Donald C. Tuschoff

¶1 Donald Tuschoff sold a bowling alley to the Schwab family, who financed the purchase with a note secured by a deed of trust. Mr. Tuschoff and his daughter thereafter borrowed money from First Bank of Lincoln to purchase Hotel Lincoln, located in the state of Montana. As additional collateral to secure the loan from First Bank, Mr. Tuschoff assigned the Schwab/Tuschoff deed of trust to First Bank. First Bank properly recorded the assignment of the deed of trust. Banana Belt Gaming LLC purchased the bowling alley from the Schwab family and paid Mr. Tuschoff the balance owing on the Schwab/…