Jolley v. Corry

OAKS, Justice:

This suit to quiet title turns on the nature of the rights and duties of cotenants when one acquires the subject property at a sale under a trust deed. The facts are undisputed.

In 1974, Preston and Romona Corry, husband and wife, executed a trust deed to secure an $8,400 obligation to the Lockhart Finance Co. The trust deed covered a five-acre unimproved property on which the Corrys were the record owners as joint tenants. This deed was promptly recorded. In 1978, a third party recovered a judgment against Preston Corry, and in due course Preston’s interest in the subject…