Pantano v. Maryland Plaza Partnership

This case arose from a deficiency judgment action in which the trust deed beneficiary sued the trustor and the beneficiary’s insurer intervened. The district court found that no deficiency judgment was warranted and dismissed the action against the trustor. The district court also dismissed the insurer’s petition in intervention. The insurer appeals. We reverse, and remand with directions.

In January 1984, Maryland Plaza Partnership executed a promissory note for $734,260 in favor of Panalene Realty Company. The note was secured by a trust deed for two parcels of real property: 1325 South 72d…