(Download) "First National Bank Kerrville And William Michael Childer V. David Melton O'dell (06/23/93)" by Supreme Court of Texas ~ Book PDF Kindle ePub Free
eBook details
- Title: First National Bank Kerrville And William Michael Childer V. David Melton O'dell (06/23/93)
- Author : Supreme Court of Texas
- Release Date : January 23, 1993
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 80 KB
Description
This summary judgment case involves a real estate lien priority dispute, and presents the issue of proper application of the doctrine of equitable subrogation. The First National Bank of Kerrville ("Bank"), as the fourth lienholder, purported to buy the first and second lienholder notes and renew, extend and rearrange such notes to exclude the notice required to the third lienholder, Dr. David Melton O'Dell and his wife Carolyn (collectively "O'Dell"), who were the only parties involved personally liable under the notes. When the "makers" defaulted, the Bank foreclosed without giving any notice to O'Dell. The Bank argues that under the equitable subrogation doctrine its foreclosure cut off O'Dell's third lien. We disagree. We hold that the equitable subrogation doctrine does not apply to the notice provisions of a renewal and extension of a prior lien unless at least one of the makers of the renewal note is personally liable on the original note. For procedural reasons we reverse the judgment of the court of appeals and remand the cause to the trial court.
 "First National Bank Kerrville And William Michael Childer V. David Melton O'dell (06/23/93)" by Supreme Court of Texas ~ Book PDF Kindle ePub Free){kind=link}