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Property Law Keyed to Dukeminier
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Waldorff Insurance and Bonding, Inc. v. Eglin National Bank
Facts
Chocktaw Partnership took out a mortgage on its condominium project with Eglin (D). It sold one unit to Waldorff (P) which moved into the unit, paid all expenses and the rent. Chocktaw then took out a second mortgage with Eglin, but defaulted. Eglin foreclosed on the condo, including the unit occupied by Waldorff. Waldorff filed against Eglin on the ground that it had better title to the unit. The trial court held that Eglin had no legal notice of Waldorff’s ownership simply because it occupied the unit. Waldorff appealed the verdict.
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