Homestead Investments, Inc. v. Foundation Reserve Insurance

OPINION

MONTOYA, Justice.

Plaintiff-appellee Homestead' Investments, Inc., hereinafter referred -to- as “plaintiff,” brought this action in the District Court of Bernalillo County, New Mexico, seeking recovery for a fire loss from defendant-appellant Foundation Reserve Insurance Company, Inc., hereinafter referred to as “defendant.” By stipulation of all parties, the First National. Bank in Albuquerque, hereinafter referred' to as “Bank,” was granted a right to a certain portion of any proceeds recovered by plaintiff by reason of the Bank’s mortgage on the property in question. Following…