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VALLELY INVESTMENTS, L.P. v. BACC

No. G026984.

106 Cal.Rptr.2d 689 (2001)

88 Cal.App.4th 816

VALLELY INVESTMENTS, L.P., Plaintiff and Appellant, v. BANCAMERICA COMMERCIAL CORPORATION, Defendant and Respondent.

Court of Appeals of California, Fourth District, Division Three.

Review Denied July 18, 2001.

Attorney(s) appearing for the Case

Law Office of Harry S. Carmack, Harry S. Carmack, Costa Mesa; Greines, Martin, Stein & Richland, Robin Meadow and Laura Boudreau, Beverly Hills, for Plaintiff and Appellant.

Sheppard, Mullin, Richter & Hampton, Alan H. Martin, Aaron J. Malo and Karin Dougan Vogel, for Defendant and Respondent.

OPINION

BEDSWORTH, J.

This case presents the question of whether a tenant who takes an assignment of a mortgaged ground lease, expressly assuming its obligations, remains liable to the lessor after foreclosure of the mortgage. Vallely Investments, L.P. (Vallely), the lessor, sued for a declaration that BancAmerica Commercial Corporation (BACC), the assignee, was bound by the lease. Vallely argues the trial court erred in granting summary judgment in favor...

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