California-Hawaii Development, Inc. v. Superior Court

Opinion

TAKEI, J. *

This petition challenges a trial court ruling expunging lis pendens. The alternative writ was issued October 31, 1979.

Petitioner, a corporation, purchased one lot from Theodore O. Schaal and Helen A. Schaal, real parties in interest, and had an option to purchase a second lot sometime in 1974. The corporation intended to develop a mobile home park on both properties. Petitioner obtained a construction loan from Bayview Federal Savings and had a purchase money loan from the Schaals which was junior to the construction loan. Petitioner defaulted on the construction loan during…