Carpenson v. Najarian

This appeal concerns the priority of trust deeds pertaining to the same parcel of real property. The facts are somewhat involved, but are essentially as follows: In September 1958, appellants George R. Carpenson and Emma L. Carpenson sold a parcel of vacant land, hereinafter referred to as the Mario Motel property, to Karl Reichert and others; as part of the purchase price the Carpensons took a promissory note in the amount of $60,000 secured by a deed of trust. This trust deed, hereafter referred to as the Reichert Trust Deed, provided for automatic subordination to future construction loans…