Chrysler First Business Credit Corp. v. Kawa

Opinion by

Chief Judge STERNBERG.

Plaintiff, Chrysler First Business Credit Corporation, appeals a summary judgment entered in favor of defendants, Ykutiel Kawa, Shawn Lustigman, David Rosenholc, Sam Fireman, and Abraham Berneman. We affirm.

Defendants purchased an apartment building in 1973, executing a promissory note in the amount of $780,000 secured by a first deed of trust against the property in favor of the lender. The note and deed of trust were assigned to Great West Life Assurance Co. In 1977, defendants sold the property for the sum of $1,090,000 “subject to” the existing first note…