Gluskin v. Atlantic Savings & Loan Assn.

Opinion

COLE, J. *

Plaintiff (a limited partnership, hereinafter called “D-B”) sought a judgment in declaratory relief that the lien of a deed of trust held by it on 172 lots in a tract, was prior and superior to the liens of two deeds of trust held by defendant Atlantic Savings and Loan Association (Atlantic). The judgment was adverse to D-B and it appeals.

The issues arise out of a transaction wherein D-B was the seller of land to Pathfinder Development Co. (Pathfinder). 1 Pathfinder in turn borrowed substantial amounts of money from Atlantic for the purpose of constructing single family…