Equitable subrogation is generally appropriate if the following five elements are met: (1) the subrogee made the payment to protect his or her own interest, (2) the subrogee did not act as a volunteer, (3) the subrogee was not primarily liable for the debt, (4) the subrogee paid off the entire debt, and (5) subrogation would
As the motion judge observed, equitable subrogation "is an exception to the basic principle that determines priority among mortgages, 'first in time is first in right.'" East Boston Sav. Bank v. Ogan, 428 Mass. 327, 329 (1998). Under the doctrine of equitable subrogation, when proceeds of a mortgage loan satisfy
applies, equitable subrogation does not apply because US Bank's predecessor, FMF, "was aware of Chase's lien and failed to take proper steps to ensure that it was satisfied and released." ¶16. As with replacement, Arizona has adopted the definition of subrogation set forth in Restatement § 7.6: "One who . fully performs. an
Real Property, Financial Services, & Title Insurance Update: Week ...
2021年6月4日 · Real Property Update. Equitable Subrogation: Record contained evidence demonstrating that Tank Tech had repaired tanks alleged damaged by improper testing and that it had paid or reimbursed Circle K for expenses incurred with respect to those specific tanks – Tank Tech, Inc. v. Valley Tank Testing, LLC, No. 2D19-422 (Fla. 2d DCA June 2, 2021) (reversing …
Real Property, Financial Services, & Title Insurance Update: Week ...
2020年6月5日 · Equitable Subrogation: Bank not entitled to equitable subrogation where mortgage as to which equitable subrogation was sought was not in existence at the time of closing and when the closing funds were used to pay off mortgage and thus was not an “intervening lien” so equitable subrogation was not applicable – U.S. Bank N.A. v. Juliano ...
Real Property & Title Insurance Update: Week Ending March 24, …
2017年3月29日 · Ashley, Case No. 14-2914 (D. Mar. March 20, 2017)(denying motion for summary judgment as to constructive trust and equitable mortgage) Equitable Subrogation/Federal Tax Liens: a lender is entitled to a first priority lien over a federal tax lien by reason of equitable subrogation, where borrower refinanced prior to the imposition of the tax ...
Christopher Smart - Carlton Fields
2024年3月22日 · Salas v. Commonwealth Land Title Insurance Co., No. 22-12264 (11th Cir. Oct. 18, 2023). Opinion affirming district court’s adoption of magistrate judge’s report and recommendation converting Commonwealth’s motion to dismiss to a motion for summary judgment and granting the motion because the standard policy exclusion 3(a) is clear and …
Real Property, Financial Services, & Title Insurance Update: Week ...
2019年5月17日 · Equitable Subrogation: refinancing lender was entitled to equitable subrogation despite arguable negligence in failing to ensure that prior revolving line of credit was fully closed and released – Bank of Am., N.A. v. Barnes Hill, LLC, No. 16-cv-11583-DJC, 2019 WL 2085996 (D. Mass. May 13, 2019) (granting summary judgment)
equitable subrogation to the Lenders. Am. Sterling Bank v. Johnny Mgrnt. LV, Inc., 126 Nev. 423, 428, 245 P.3d 535, 538 (2010) (explaining that equitable subrogation is an equitable remedy and this court reviews decisions concerning equitable remedies for abuse of discretion). FATIC and Countrywide are two distinct entities and FATIC's ...
actively participating. JCSB invokes the doctrine of equitable subrogation in support of its position. Although Eastern is the moving party, JCSB concedes that it has the burden of proof on this issue. Both banks submitted prehearing memoranda of law, as well as post-hearing memoranda requested by the court.