Jones v. Sacramento Sav. & Loan Assn.

The 13 lots involved in this quiet title action are part of a residential subdivision in Yuba County. These lots were successively the subject of a set of purchase money trust deeds and a set of construction money trust deeds. Sacramento Savings and Loan Association was the lender of construction funds. The suit represents a title contest between plaintiff Jones, who had bought the purchase money notes and bid in the properties at his trustee’s sales, and Sacramento Savings, which purchased at sales held by its own trustee. Neither party bid at the other’s sales.

The trial court sustained…