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Property Keyed to Saxer
Alby v. Banc One Financial
Citation:
156 Wash. 2d 367, 128 P.3d 81Facts
Alby conveyed a portion of their family farm to their daughter and her husband, the Brashlers, for a fraction of the property’s worth. The conveyance provided that if the Brashlers ever subdivided, mortgaged, or otherwise encumbered the property during the Alby’s lifetime, it would automatically revert to Alby.
The Brashlers proceeded to take out two loans on the property and soon thereafter defaulted on the loans. Banc One purchased the property from the Brashlers’ creditor during the subsequent trustee’s sale. Alby filed a quiet title action, but title was quieted in Banc One by the Trial Court. Alby appealed and the Court of Appeals quieted title in her. Banc One appealed to the Supreme Court, which upheld the Court of Appeals ruling.
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The Deed Fee Simple Estates and Future Interests Mortgages Land Sale Contract and Marketable Title Conditions