Kivisto v. Nationscredit Corp.

MAY, MELANIE G., Associate Judge.

A foreclosure action and the effect of the Probate Code on a sales agreement concerning the note and mortgage on certain property provides the framework for this appeal. The appellee, Nationscredit, filed a foreclosure action against the appellant, the Estate, and others. From a summary judgment of foreclosure, the Estate appeals. We reverse.

In January, 1988, the decedent, John V. Rais, sold certain real property to Karl Lind-roos for a $550,000 purchase price. In exchange, Mr. Lindroos executed a $500,000 purchase money balloon mortgage. Approximately three…