Turner v. Lytton Savings & Loan Ass'n

In this declaratory relief action plaintiffs appeal from a judgment holding that their second deed of trust is junior to the entire amount of defendant Lytton’s first deed of trust. The judgment was rendered upon completion by plaintiffs of their case in chief. (Code Civ. Proc., § 631.8.) The facts follow.

Plaintiffs sold an unimproved parcel of real property to defendants Caton and wife, doing business as F. & R. Builders, for $12,000, taking back said defendants’ note and second deed of trust thereon for $8,000 as part payment of the purchase price.

The Catons then obtained a construction…