SOURCECORP, INC. v. NORCUTT

No. CV-11-0269-PR.

274 P.3d 1204 (2012)

SOURCECORP, INCORPORATED, Plaintiff/Appellee, v. Dean D. NORCUTT and Stacey L. Norcutt, husband and wife, Intervenors/Appellants.

Supreme Court of Arizona, En Banc.

As Amended on Denial of Reconsideration April 25, 2012.


Attorney(s) appearing for the Case

Steptoe & Johnson LLP by Francis J. Burke, Jr. , Bennett Evan Cooper , Douglas D. Janicik , Phoenix, Attorneys for Sourcecorp, Incorporated.

Mariscal, Weeks, McIntyre & Friedlander, P.A. by Michael R. Scheurich , Anne L. Tiffen , Robert C. Brown , Gust Rosenfeld, P.L.C. by Charles W. Wirken , Scott A. Malm , Phoenix, Attorneys for Dean D. Norcutt and Stacey L. Norcutt.

Holden Willits PLC by Michael J. Holden , Barry A. Willits , Phoenix, Attorneys for Amicus Curiae Arizona Builders' Alliance.

Gust Rosenfeld, P.L.C. by Richard A. Segal , Charles W. Wirken , Scott A. Malm , Phoenix, Attorneys for Amicus Curiae Land Title Association of Arizona.


OPINION

BALES, Justice.

¶ 1 Dean and Stacey Norcutt bought a home for cash and satisfied the existing first mortgage. They later discovered the home was also subject to a judgment lien far exceeding the property's value. We hold that the purchasers were equitably subrogated to the mortgage lien's priority for the amount they paid to satisfy the mortgage.

I.

¶ 2 In September 2004...

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