Property Law Keyed to Dukeminier
Waldorff Insurance and Bonding, Inc. v. Eglin National Bank
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- Topic: Identifies the topic of law and where this case fits within your course outline.
- Parties: Identifies the cast of characters involved in the case.
- Procedural Posture & History: Shares the case history with how lower courts have ruled on the matter.
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- Brief Facts: A Synopsis of the Facts of the case.
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- Facts: What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case. Review the Facts of this case here:
The Defendant entered into a written purchase agreement for a property contained in a condominium unit. On three separate occasion: 1973, 1974 and 1975, the owner of the condominium unit executed mortgages with Plaintiff, which included Defendant’s property. In 1975, after Defendants mortgage had been recorded, the owner of the condominium complex executed a quitclaim deed for the Defendant, which was recorded. To finalize the purchase of the unit, Defendant ‘wrote off’ a debt owed to it by the owner of the condominium complex. This write-off was treated as payment by the Defendant of the final amount due on the purchase price of the unit. In 1976, the Plaintiff brought a foreclosure action against the owner and Defendant. The trial court found for the Plaintiff and ruled that the Defendant did not have an interest in the unit superior to that of the Plaintiff. Defendant appealed.
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