Fourteen UTA Member Companies have collectively contributed $13,350 to support UTA’s amicus brief in the case of KB Properties v. Financial Title Company et al.  The amicus brief work will be spearheaded by UTA’s Legal Resources Committee Chair, Martin T. McGuinn Esq. of Kirby & McGuinn as well as Phillip M. Adleson, Esq. of Adleson, Hess & Kelly.

In the case, the trial court sustained a demurrer to the bidder’s complaint and the bidder refused to amend the complaint and chose to have the judgment of dismissal entered so the appeal could proceed immediately. The bidder purchased a commercial property for over One Million Dollars less than the fair market value at the date of sale. The case presents UTA with an opportunity to advance its assertion that the privilege provided to trustees for acts related to the foreclosure process contained in Civil Code Section 2924 includes the trustee’s recording a Notice of Rescission of a trustees deed upon sale (“TDUS”) after the deed has been delivered to the purchaser. The trial court ruled that the recording of the Rescission was privileged and defeated the claims alleged by the bidder for Slander of Title, Interference with Prospective Economic Advantage and Negligence.

So, thank you to the following UTA Members whose contributions will enable UTA to file a high quality brief that will fight a court decision which adversely impacts the trustee industry.