Pacific Ready Cut Homes, Inc. v. Title Insurance & Trust Co.

THE COURT.

This is an action to subject the unexpended balance of a building loan to an equitable lien in favor of a materialman. Defendants A. W. Menkins and Violet Menkins, his wife, were owners of a lot, upon which they desired to erect an apartment house. They secured a loan of $16,000 from defendant Meline Bond and Mortgage Company, secured by a first deed of trust on the property, recorded June 26, 1928. Two other trust deeds in the amount of !$6,000 each were also recorded in favor of other persons, on July 23, 1928. These instruments were all recorded prior to the commencement of the…