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UNITED STATES v. LOOSLEY

No. 14247.

551 P.2d 506 (1976)

UNITED STATES of America, Plaintiff, v. George B. LOOSLEY, dba Farmers Supply Company, et al., Defendants and Appellants, v. Sterling GRIFFITHS and Donna Griffiths, his wife, Purchasers at Sheriff's Sale and Respondents.

Supreme Court of Utah.

June 15, 1976.

Attorney(s) appearing for the Case

Lauren N. Beasley, of Cotro-Manes, Warr, Fankhauser & Beasley, Salt Lake City, for defendants-appellants.

Michael W. Park, Cedar City, for respondents.

CROCKETT, Justice:

The United States (Small Business Administration) brought a foreclosure action on a service station at Cedar City after the lessors, George and Theodean Loosley, failed to repay a Small Business Administration loan.

Defendants Sterling and Donna Griffiths bid in and purchased the mortgagee's interest in the property at the sheriff's sale held on December 13, 1974. Subsequently, the Loosleys had assigned their interest to the defendants,...

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