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ARK. TEACHER RET. SYS. v. CORONADO PROP., LTD.

No. CA 90-68.

801 S.W.2d 50 (1990)

33 Ark.App. 17

ARKANSAS TEACHER RETIREMENT SYSTEM, Appellant, v. CORONADO PROPERTIES, LTD., a California Limited Partnership, Appellee.

Court of Appeals of Arkansas, Division I.

December 5, 1990.

Attorney(s) appearing for the Case

Charlene D. Bilheimer, Little Rock, for appellant.

Stanley A. Leasure, Fort Smith, for appellee.

JENNINGS, Judge.

This appeal is from a judgment of the Sebastian County Chancery Court holding that appellee, a junior mortgagee, is entitled to the proceeds of a fire insurance policy. We affirm the chancellor's ruling.

Appellant, Arkansas Teacher Retirement System (ATRS), held a note and first mortgage on an apartment project in Fort Smith. On May 24, 1984, appellee, Coronado Properties, owner of the property, conveyed the apartment complex to French Village...

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