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FAIT v. NEW FAZE DEVELOPMENT, INC.

No. C067630.

207 Cal.App.4th 284 (2012)

143 Cal. Rptr. 3d 382

DONNA FAIT et al., Plaintiffs and Appellants, v. NEW FAZE DEVELOPMENT, INC., et al., Defendants and Respondents.

Court of Appeals of California, Third District.

June 27, 2012.

Attorney(s) appearing for the Case

Glenn A. Fait and Elizabeth Colegrove for Plaintiffs and Appellants.

Kilpatrick Law Offices, Terence Kilpatrick; Real Estate Law Group and Jason L. Hoffman for Defendants and Respondents.

OPINION

ROBIE, Acting P. J. —

The owner of a parcel of real property with a building on it demolishes the building to make way for new development. Unfortunately, the owner is unable to complete the development and ends up defaulting on a purchase money promissory note secured by a deed of trust on the property. The holder of the note and deed of trust exercises the power of sale...

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