Krystal M. Kinghorn v. Kelly N. Clay and BRP, Inc.

HORTON, Justice.

Krystal Kinghorn (Kinghorn) and Kelly Clay (Clay) agreed that Clay would co-sign for a loan for Kinghorn’s benefit. In order to protect Clay in the event that Kinghorn defaulted on the loan, Kinghorn agreed to execute a quitclaim deed to real property that Clay could record if Kinghorn defaulted. When Kinghorn defaulted, Clay recorded the deed and conveyed the property to BRP Incorporated (BRP). Kinghorn filed suit, and the district court unwound the conveyance, holding at summary judgment that the deed was a mortgage and that Kinghorn had a right to redeem the property. BRP…