UT Communications Credit Corp. v. Resort Development, Inc.

CRANE, Judge.

William and Sharon Winzerling brought a cross-claim ¿against Town and Country Mortgage Company (T & C) seeking rescission of their promissory note and deed of trust to T & C securing a $60,000 loan made by T & C to them to finance their purchase of a condominium unit from Resort Development, Inc. They alleged T & C had breached its fiduciary duty as escrow officer and closing agent for the Winzerlings. After a non-jury trial the trial court ordered the Winzerlings’ promissory note and deed of trust to T & C rescinded on the ground that there was a mutual mistake of fact regarding…