Key Fin. Services v. Testa

• Decision Date: 15 December 2006
• Docket Number: C.A. No. PC 05-3234
• Parties: KEY FINANCIAL SERVICES v. ROBERT TESTA, as Administrator of the Estate of Jesse Oliver, Jr., C.T.A. and Robert Oliver, Sr., and his assignee, Dixon 5 Associates
• Court: Rhode Island Superior Court

KEY FINANCIAL SERVICES
v.
ROBERT TESTA, as Administrator of the Estate of Jesse Oliver, Jr., C.T.A. and Robert Oliver, Sr., and his assignee, Dixon 5 Associates

C.A. No. PC 05-3234

Superior Court of Rhode Island

December 15, 2006

DECISION

GIBNEY, J.

This matter is before the Court on plaintiff Key Financial Service’s (Key Financial) Motion for Summary Judgment. The Defendants^[1] object to this motion.

Facts and Travel

On August 19, 1988, Jesse Oliver, Jr. the owner of property located at 5 Dixon Avenue in Bristol, RI (the “Property”), died. Before his death, he had written a will (the “Will”), under which he bequeathed the Property to Robert Oliver, Sr. (Robert). Additionally, the Will named Robert as Executor of the estate. Shortly thereafter, Robert executed a promissory note and mortgage on the Property in the amount of $122,000. On April 6, 1989, the promissory note and mortgage were assigned to the plaintiff in this case, Key Financial Services (Key Financial). Approximately two weeks later, on April 21, 1989, Robert issued an executor’s deed to himself and procured the remaining interests in the Property via a deed issued by Mary Carlone, who had been granted a life estate in the Property under the Will.

Subsequently, however, it was revealed that Robert had never posted the bond required by his appointment as Executor of Jesse Oliver’s estate. Consequentially, Augustine Smith (“Mr. Smith”) moved the Bristol County Probate Court (Probate Court) to remove Robert as Executor and appoint himself as administrator in his place. The Probate Court granted the petition on February 5, 1991, and thereafter Mr. Smith filed an affidavit in the Town of Bristol Land Records declaring that the executor’s deed issued by Robert as null and void. On March 1, 2001, Mr. Smith died before any action regarding the executor’s deed could be taken in the Probate Court. In his place, the Probate Court appointed Robert Testa (Mr. Testa) as administrator on June 16, 2005.

Robert Oliver then defaulted on the promissory note assigned to Key Financial, and, as a result, Key Financial brought suit against him in this Court. The Court awarded partial summary judgment for Key Financial in the amount of $203,148.89. Execution was issued against Robert Oliver, and the Property was levied by Sheriff’s action. Key Financial pursued the levy sale, and on November 27, 1996, it obtained all right and title held by Robert in the Property. The Sheriff’s Deed of Execution...