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LEVINE v. FIRST NAT. BANK OF COMMERCE

Nos. 2006-C-0394, 2006-C-0439.

948 So.2d 1051 (2006)

Jeffrey S. LEVINE, M.D. v. FIRST NATIONAL BANK OF COMMERCE First National Bank of Commerce v. Jeffrey S. Levine.

Supreme Court of Louisiana.

Rehearing Denied February 16, 2007.

Attorney(s) appearing for the Case

Ezkovich & Company, Alan D. Ezkovich, Melissa M. Savoie; Morrison & Forrester, Beth S. Brinkmann, Seth M. Galanter, Brian R. Matsui, for Applicant in No. 2006-C-0394.

Steven Lemoine, Baton Rouge; Taggart, Morton, Ogden, Staub, Rougelot & O'Brien, Perry R. Staub, Jr., James R. Morton, New Orleans, Amanda S. Moore, for Respondent in No. 2006-C-0394.

David Joseph Boneno, for Louisiana Bankers Association, Amicus Curiae.

Michael H. Rubin; McGlinchey Stafford, Baton Rouge; Joseph M. Kolar, Matthew P. Previn, Buckley Kolar, for American Financial Services Assn., America's Community Bankers Assn., Consumer Banker's Assn., Consumer Mortgage Coalition, Housing Policy Counsel of the Financial Services Roundtable and Mortgage Bankers Association, Amicus Curiae.

Steven Lemoine, Baton Rouge, for Applicant in No. 2006-C-0439.

Ezkovich & Company, Alan D. Ezkovich, Melissa M. Savoie; Morrison & Foerster, Beth S. Brinkmann, Seth M. Galanter, Brian R. Matsui; Taggart, Morton, Ogden, Stub, Rougelot & O'Brien, Perry R. Staub, Jr., James R. Morton, New Orleans, Amanda S. Moore, for Respondent in No. 2006-C-0439.

WEIMER, Justice.

After a homeowner and a national bank signed a mortgage which contained a due-on-sale clause, the homeowner transferred his property pursuant to a bond for deed which placed the transferees in immediate and exclusive possession and granted the transferees the right to demand specific performance and eventually acquire title. Claiming the bond for deed triggered the due-on-sale clause, the bank sued to foreclose. The homeowner responded with a suit...

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