Kalange v. Rencher

WALTERS, Justice.

This appeal deals with the priority of conflicting secured interests on property owned by Twin Falls Athletic Club, Inc., that was foreclosed upon to satisfy debts owing to Thomas and Marilyn Kalange. The district court determined that the Kalanges’ interest was subordinate to the interest of the respondent, Craig Rencher. We affirm.

FACTUAL AND PROCEDURAL HISTORY

In 1991, Michael and Patricia Farnsworth (Farnsworth) purchased all of the outstanding stock in the Twin Falls Athletic Club, Inc. (TFAC) from Thomas and Marilyn Kalange (Kalange). Farnsworth executed a promissory…