Bankruptcy Estate of Burnett, Waldock & Padgett Investments v. C.B.S. Realty

OPINION

COMPTON, Justice.

This dispute involves two rival claimants to a plot of land in Anchorage commonly known as the Goose Lake property.1 The appellant, who is the trustee in bankruptcy for the partnership of Burnett, Waldock & Padgett Investments, claims title to the Goose Lake property by virtue of a quitclaim deed from the previous owner. The appellee, CBS Realty, purchased the Goose Lake property at a foreclosure sale under a second Deed of Trust. (CBS Realty subsequently quitclaimed to Olympic, Inc., but they are related corporations, and both will be referred to here as “CBS”.) The…