Enloe v. Kelso

California Court of Appeal Jul 25, 2013 No. B241201MPublished

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Holding. Code of Civil Procedure section 580b prohibits a vendor from obtaining a deficiency judgment on a deed of trust given to secure a portion of the purchase price, regardless of whether the deed was recorded after the close of escrow.

Issues

Does Code of Civil Procedure section 580b bar a deficiency judgment when a vendor's deed of trust is recorded immediately after the close of escrow?
Does the timing of the recording of a deed of trust change its character as a purchase money security interest under section 580b?

Disposition. affirmed

Quotations verified verbatim against the opinion

“When sellers of real estate accept a deed of trust from the purchasers to secure the purchase price, Code of Civil Procedure section 580b prohibits the sellers from obtaining a deficiency judgment in the event the purchasers default.”

“It matters not that such a trust deed is given to sellers after the close of escrow. Timing does not change its character.”

Filed 7/25/13 (unmodified opn. attached)

CERTIFIED FOR PUBLICATION

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA

SECOND APPELLATE DISTRICT

DIVISION SIX

JAMES ENLOE et al., 2d Civil No. B241201 (Super. Ct. No. 118183) Plaintiffs and Appellants, (San Luis Obispo County)

v. ORDER MODIFYING OPINION AND DENYING REHEARING [NO CHANGE CASEY LEE KELSO et al., IN JUDGMENT]

Defendants and Respondents.

THE COURT: IT IS ORDERED that the opinion filed herein on July 3, 2013, be modified as follows: 1. On page 4, after the last sentence of the second full paragraph, add the following text: We reject the fiction argued by the Enloes that the $93,750 was a "hard money loan" and not part of the purchase price. There is no change in the judgment. Appellants' petition for rehearing is denied.

Dodie A. Harman, Judge

Superior Court County of San Luis Obispo ______________________________

Christian E. Iversen for Plaintiffs and Appellants. Duggan Smith & Heath LLP, Jane E. Heath, Janet L. Wallace for Defendant and Respondents.

Filed 7/3/13 (unmodified version)

CERTIFIED FOR PUBLICATION

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA

SECOND APPELLATE DISTRICT

DIVISION SIX

JAMES ENLOE et al., 2d Civil No. B241201 (Super. Ct. No. 118183) Plaintiffs and Appellants, (San Luis Obispo County)

Enloe v. Kelso

AI Brief

CERTIFIED FOR PUBLICATION

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA

SECOND APPELLATE DISTRICT

DIVISION SIX

CERTIFIED FOR PUBLICATION

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA

SECOND APPELLATE DISTRICT

DIVISION SIX

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