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Property Law Keyed to Singer
Baskurt v. Beal
Citation:
101 P.3d 1041 (Alaska 2004)Facts
In 1953, Mortimer Moore was granted a forty-acre parcel of land. He conveyed the parcel to his wife, Marion, in 1959. In 1960, Marion acquired another parcel to the north of the property (Parcel 1). In 1974, a majority of the original property was sold, leaving Parcel 2. In 1976, the Moores divorced and, in 1991, they simultaneously sold the Parcels to Charles McAlpine who then conveyed them to Annette Beal. Two promissory notes were signed by McAlpine: Note A for $95,000 to Mortimer for Parcel 1 and Note B for $135,000 to Marion for Parcel 2. Both notes were secured by a single deed of trust. In 1995, Beal paid off the Note A. In the fall of 1999, Sarah Baskurt, as trustee for a trust established by Marion, took steps to foreclose on the entire property due to Beal’s erratic payment history. At the time, Beal owed $26,780.81 on Parcel 2. At the time of the foreclosure sale on April 26, 2000, Baskurt approached two friends, Wainscott and Rosenthal, to form a partnership in order to purchase the property. At the sale, Baskurt made the only bid on the property for $26,781.81.
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