Union Bank v. Wendland

I respectfully dissent.

I agree with the conclusion that the record supports the trial court’s finding that the first deed of trust, which was given to secure a loan of $28,000 effected September I, 1967, was not a deed of trust given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of the property. The property had been acquired October 21, 1965, partially with a loan from First Savings and *411Loan Association. Although the balance of that loan was paid off with a portion of the 1967 loan, part of the proceeds were used for other purposes.…