In the newest ACMA Community Blog post, ACMA Fellow Ken Miller writes that the California Supreme Court's recent decision in the Black Sky Capital case is very important for real property lenders and provides good news for those lenders. This is a result of the court's ruling that California code does not preclude recovery for a secured lender holding a junior deed of trust, following the lender's non-judicial foreclosure of the senior deed of trust on the same property.
Miller advises real property lenders holding two deeds of trust on the same property to be well aware of the Black Sky decision.
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