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SBS FINANCIAL SERVICES v. PLOUF FAM. TRUST

No. 26155.

821 N.W.2d 842 (2012)

2012 S.D. 67

SBS FINANCIAL SERVICES, INC., Plaintiff and Appellee, v. The PLOUF FAMILY TRUST, Michael Plouf, Successor Trustee, Defendants and Appellants, and Larry G. Englund, Marianne M. Englund, Husband and Wife; and ITC Service First, Inc., Defendants.

Supreme Court of South Dakota.

Decided October 3, 2012.

Attorney(s) appearing for the Case

E. Steeves Smith of Tinan, Smith & Bucher, Mitchell, South Dakota, Attorneys for plaintiff and appellee.

Meredith A. Moore , Jayna M. Voss of Cutler & Donahoe, LLP, Sioux Falls, South Dakota, Attorneys for defendants and appellants.

WILBUR, Justice.

[¶ 1.] In this case, we interpret a trust instrument to decide whether the death of Betty Plouf triggered the offset provision of the Plouf Family Trust (Trust), and thus, instantaneously satisfied the mortgage lien the Trust held on the home of a beneficiary. We hold that it did and affirm the decision of the trial court.

FACTS AND PROCEDURAL BACKGROUND

[¶ 2.] Although this case turns on the interpretation of a trust instrument...

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