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SMITH v. F.D.I.C.

No. 93-4686.

61 F.3d 1552 (1995)

Grady H. SMITH, Plaintiff-Counter-Defendant-Appellant, v. The FEDERAL DEPOSIT INSURANCE CORPORATION, Defendant-Counter-Claimant-Third-Party-Plaintiff-Appellee, Marc Wahlquist; Maria Wahlquist, his wife; Number One Company, a dissolved Florida corporation, Third-Party-Defendants.

United States Court of Appeals, Eleventh Circuit.

August 28, 1995.

Attorney(s) appearing for the Case

Rex Edward Russo, Coral Gables, FL, for appellant.

Lori L. Heyer, S. Alyssa Roberts, Miami, FL, for F.D.I.C.

Before KRAVITCH and HATCHETT, Circuit Judges, and CLARK, Senior Circuit Judge.

CLARK, Senior Circuit Judge:

Grady Smith appeals from the district court's grant of summary judgment in favor of the Federal Deposit Insurance Corporation ("FDIC") in Smith's quiet title action. Smith had foreclosed his second mortgage on property on which the FDIC had a first mortgage. Smith bought in the property subject to the FDIC mortgage. The district court concluded that the FDIC's first mortgage on property remained a prior claim to the property, since the...

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