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ALLEN v. WEBB

No. 6332.

485 P.2d 677 (1971)

Emmet W. ALLEN and Myrtle R. Allen, and Title Insurance and Trust Company, a California corporation, Appellants, v. R.W. WEBB, Respondent. Emmet W. ALLEN and Myrtle R. Allen, Appellants on Cross-Claim, v. TITLE INSURANCE AND TRUST COMPANY, a California corporation, Respondent on Cross-Claim.

Supreme Court of Nevada.

June 1, 1971.

Attorney(s) appearing for the Case

Robert Callister and Carl J. Christensen, Las Vegas, for Emmet W. Allen and Myrtle R. Allen.

W. Bruce Beckley, Las Vegas, for Title Insurance and Trust Co.

Lionel Sawyer, Collins & Wartman, Las Vegas, for R.W. Webb.

OPINION

ZENOFF, Chief Justice:

The Allens owned an apartment building. The Earls owned a ranch in Overton, Nevada. Phillips owned nothing. Phillips negotiated a transaction whereby the Allens conveyed their apartment building to Phillips, Phillips gave them a $71,500 note secured by a trust deed on the Earls' ranch and the Earls conveyed the ranch to Phillips in exchange for the apartment building. As a result of this escrow transaction through Title Insurance...

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