Edmonds v. Lsref 2 Cobalt (IL), LLC, 110519 AZAPP1, 1 CA-CV 18-0772

Docket Nº:1 CA-CV 18-0772
Opinion Judge:BROWN, JUDGE
Party Name:CAROL JEAN EDMONDS, trustee of the CJE Living Trust, Plaintiff/Appellant, v. LSREF2 COBALT (IL), LLC, a Delaware limited liability company; LSREF2 COBALT (AZ), LLC, a Delaware limited liability company, Defendants/Appellees.
Attorney:Jaburg & Wilk PC, Phoenix By David L. Allen, Nichole H. Wilk Counsel for Plaintiff/Appellant Quarles & Brady LLP, Phoenix By Isaac M. Gabriel, Hannah R. Torres Counsel for Defendants/Appellees
Judge Panel:Judge Michael J. Brown delivered the decision of the Court, in which Presiding Judge Jennifer B. Campbell and Judge Lawrence F. Winthrop joined.
Case Date:November 05, 2019
Court:Court of Appeals of Arizona
 
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CAROL JEAN EDMONDS, trustee of the CJE Living Trust, Plaintiff/Appellant,

v.

LSREF2 COBALT (IL), LLC, a Delaware limited liability company; LSREF2 COBALT (AZ), LLC, a Delaware limited liability company, Defendants/Appellees.

No. 1 CA-CV 18-0772

Court of Appeals of Arizona, First Division

November 5, 2019

Not for Publication - Rule 111(c), Rules of the Arizona Supreme Court

Appeal from the Superior Court in Mohave County No. L8015CV201607192 The Honorable Derek C. Carlisle, Judge

Jaburg & Wilk PC, Phoenix By David L. Allen, Nichole H. Wilk Counsel for Plaintiff/Appellant

Quarles & Brady LLP, Phoenix By Isaac M. Gabriel, Hannah R. Torres Counsel for Defendants/Appellees

Judge Michael J. Brown delivered the decision of the Court, in which Presiding Judge Jennifer B. Campbell and Judge Lawrence F. Winthrop joined.

MEMORANDUM DECISION

BROWN, JUDGE

¶1 Carol Jean Edmonds, as trustee of the CJE Living Trust dated October 1, 2007 ("Edmonds"), appeals the superior court's order dismissing her claims for declaratory judgment and quiet title. For the following reasons, we affirm.

BACKGROUND

¶2 Nace Land & Cattle Company, Inc. ("Nace Land"), owned several parcels of land in Mohave County for the purpose of developing a project known as Arizona Gateway. The project was subject to a deed of trust in favor of ALC Financial Corporation, a Minnesota Corporation ("ALC"). On November 12, 2008, Edmonds purchased one of the Arizona Gateway parcels ("Property") from Nace Land for $435, 000 and received title through a warranty deed. As part of the escrow, Chicago Title Insurance Company forwarded payoff funds to ALC, but ALC neglected to release the lien attached to the Property.

¶3 The deed of trust was ultimately assigned to LSREF2 Cobalt (AZ), and a notice of trustee's sale was recorded in September 2014. Unbeknownst to Edmonds, the planned sale included the Property. The sale was conducted in December 2014, and LSREF2 Cobalt (AZ) acquired title to the Property after submission of its credit bid.1 After discovering that she no longer owned the Property, Edmonds filed a lawsuit in 2016, alleging claims for breach of...

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