II. Real Property Secured Transactions
- Lehman Bros Holdings, Inc. v. PMC Bank (9th Cir. 2015)
(unpublished) – California anti-deficiency full credit bid rule does
not apply when person making the bid is not an agent of the
secured party. [check bank name]
- DM Residential Fund II, LLC v. First Tennessee Bank National
Association, _ Cal.App.4th _ (2015) – A two-year delay in bringing
a suit to rescind a real estate purchase deprived the buyer of the
equitable remedy of rescission under California law. The buyer
took actions during that period that were inconsistent with
unwinding the contract, including encumbering the property,
building improvements, and attempting to sell it.
- Coker v. JPMorgan Chase Bank, N.A., _ Cal.4th _ (2016) – Code of Civil Procedure § 580b’s antideficiency protection applies when a defaulting borrower arranges a short sale. The borrower cannot waive that protection when agreeing to short sale.
III. Guaranties | Table of Contents