University Savings Ass'n v. Springwoods Shopping Center

SONDOCK, Justice.

This is a suit for wrongful foreclosure brought by Springwood Shopping Center (“Springwood”) and Truitt V. Lively against University Savings Association (“University Savings”). The trial court granted summary judgment for University Savings. The court of appeals reversed. 635 S.W.2d 440. We reverse the judgment of the court of appeals.

The issue in this case involves the following provision in the deed of trust:

Successor or substitute trustees may be named, constituted and appointed without procuring resignation of the former trustee and without other formality than the…