Jeffs v. Citizens Finance Co., 8637
| Decision Date | 08 January 1958 |
| Docket Number | No. 8637,8637 |
| Parties | d 106 Rulon T. JEFFS and J. Marion Hammon, Plaintiffs and Respondents, v. CITIZENS FINANCE COMPANY, a corporation, Defendant and Appellant. |
| Court | Utah Supreme Court |
B. R. Parkinson, Salt Lake City, for appellant.
N. J. Cotro-Manes, Paul Cotro-Manes, Salt Lake City, for respondents.
Appeal from a judgment quieting title to real property in plaintiff. Affirmed. Costs to plaintiff.
One Betsy Lee sold the subject property to Mr. and Mrs. Watson under a uniform title retaining real estate contract which contained a provision for termination thereof and for repossession in the event specified payments were not made. Later on the Watsons borrowed a sum of money from defendant and to secure the same 'assigned' the contract to the latter. Defendant recorded the instrument. After such recordation, Betsy Lee deeded the property to Jeffs, who notified the Watsons to make payments to him thereafter. Jeffs had no actual knowledge of the 'assignment.' The Watsons became delinquent under the contract and Jeffs, in a statutory eviction action, obtained a default judgment terminating the contract and ordering that he have possession of the property. The defendant was unaware of such litigation. Finally Jeffs was apprised of the 'assignment' and the recording thereof, which resulted in his instituting the present proceedings.
Defendant urges that a uniform real estate contract cannot be terminated without giving the purchaser notice of intention to forfeit and a reasonable time within which to perform the terms of the contract, and that an assignee of the purchaser is entitled to the same kind of notice and opportunity. Defendant claims to be such an assignee here. We do not have the contract before us on this appeal, but we assume that it is the type where the seller, in the alternative, might either repossess the property or permit the purchaser to remain as a tenant at will. Be that as it may, we believe defendant itself has precluded relief on appeal.
The 'assignment' in this case was for one purpose only,--to secure a loan. It was not an out and out transfer, since it had no significance whatever once the loan was paid. Under such circumstances, if the lender wishes to protect his loan after his assignor defaults on the real estate contract, it is essential that he make a tender of full and unqualified performance with respect to those provisions uncomplied with by the assignor. There is nothing in the somewhat sketchy...
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