In Re the Foreclosure of the Deed of Trust of Owen

BECTON, Judge.

I

This case concerns the validity of a promissory note secured by a deed of trust, when one of the signers of the note and deed of trust was not involved in the underlying transaction. The question presented is whether forbearance to levy on a bank account owned by both promisors on the note and deed of trust constitutes consideration adequate to support foreclosure on the trust property pursuant to the terms of the note and deed.

We disagree with the Owens’ contention that no valid debt existed between them and Charles Wilkins, the promisee on the note and beneficiary of the deed…