Evans v. California Trailer Court, Inc.

Opinion

THAXTER, J.

We decide here that the antideflciency statutes do not bar an action under the following circumstances:

1) The seller/beneficiary holds two trust deeds on the same real property, each securing a separate note for $300,000;

2) The seller/beneficiary reacquires the property at a nonjudicial foreclosure sale of the senior deed of tmst with a credit bid which is less than the full amount of indebtedness secured by the two deeds of tmst; and,

3) The action seeks damages from the buyers/trustors on various tort theories.

Facts and Procedural History

Plaintiffs William and Peggy Evans…