Peters v. Great Western Bank, Inc.

Plaintiff obtained a default judgment against Barker & Little, Inc. (BLI). BLI was a general partner in Barker & Little Limited Partnership III (BLLP) and the operating entity for the management of rental properties, including property titled to BLLP. Doug Hamilton owned BLI, BLLP and Barker & Little Manufactured Homes, Inc. (BLMHI). Great Western Bank extended a line of credit to BLI secured by mobile homes and rent-to-own contracts owned by BLMHI. The Bank later initiated foreclosure proceedings against BLMHI and BLLP. BLI was named as a codefendant in each action. The Bank, however, did not join Plaintiff as a defendant or notify her of the foreclosure actions. The Bank and Hamilton privately negotiated a settlement agreement. When she learned of the Bank’s foreclosure actions, Plaintiff initiated this action against the Bank. The circuit court granted summary judgment for the Bank. The Supreme Court affirmed, holding that Plaintiff did not have an interest in, or lien on, the foreclosure property on the date the Bank filed its foreclosure actions, and therefore, there were no genuine issues of material fact, and the Bank was entitled to judgment as a matter of law. View "Peters v. Great Western Bank, Inc." on Justia Law