Budget Realty, Inc. v. Hunter

Opinion

THOMPSON, Acting P. J.

Budget Realty, Inc. (Seller) appeals from the summary judgment in favor of Martin D. Hunter and Linda Rubin (together referred to as Buyer). The sole issue on appeal is whether a purchase money trust deed is taken outside the antideficiency protection of Code of Civil Procedure section 580b 1 when the trust deed contains an unexercised agreement to subordinate the security to a construction loan. We find that until the subordination provision is exercised, jeopardy to the seller’s security has not been aggravated. Thus, we hold that presence of an unexercised…