Wagner v. First Wyoming Bank, N.A. Laramie, 89-90
| Decision Date | 20 December 1989 |
| Docket Number | No. 89-90,89-90 |
| Citation | 784 P.2d 224 |
| Parties | Roger L. WAGNER and M.C. Wagner, Appellants (Plaintiffs), v. FIRST WYOMING BANK, N.A. LARAMIE, Appellee (Defendant). |
| Court | Wyoming Supreme Court |
Georg Jensen of Law Offices of Georg Jensen, Cheyenne, for appellants.
Paul D. Schierer of Pence and MacMillan, Laramie, for appellee.
Before CARDINE, C.J., and THOMAS, URBIGKIT, MACY and GOLDEN, JJ.
Appellants Roger L. Wagner and M.C. Wagner appeal the disposition of competing summary judgment motions focused on whether or not certain structures should be included in the appraised value of land the Wagners agreed to purchase from Appellee First Wyoming Bank, N.A. Laramie.
We affirm in part, reverse in part, and remand.
The Wagners state the issues as:
1. Did the district court err in granting summary judgment on the complaint and counterclaim herein based upon a selection of evidence between conflicting affidavits?
2. Did the district court err in including the value of personal property in a judgment for specific performance on the purchase of real property?
The bank responds with these issues:
I. Did the district court err in granting summary judgment in Appellees' favor on the issue of specific performance?
II. Did the district court err in granting summary judgment in Appellees' favor on the issue of rental payments due?
During the month of April 1981, Hardwood Specialties, Inc., a Wyoming corporation, presented an extensive loan proposal to the bank, which provided in part:
The proposed action by HARDWOOD SPECIALTIES, INC., (owner Roger L. Wagner) is to borrow approximately $150,000.00 to be used in the following manner. Eighty two thousand dollars ($82,000.00) to be used to pay off existing short term construction loans and secure first deed of trust for lender against real property and buildings located in South Knoll Sub-division, Laramie, Wyoming, which has a current appraised value of $219,000.00 plus * * *.
The bank loaned the $150,000 to Hardwood Specialties, Inc. and secured the loan with a mortgage on that tract of land. The mortgage was signed by the Wagners individually and as officers of Hardwood Specialties, Inc.
Hardwood Specialties, Inc. defaulted on the loan and declared bankruptcy. After obtaining relief from the automatic stay, the bank judicially foreclosed on the mortgage. Pursuant to a stipulation, the foreclosure order allowed the Wagners to rent the foreclosed property for one year at a rate of $1,500 per month and to purchase the property at an appraised value when the year concluded. This value was to be determined either by an appraiser chosen by the parties jointly or by the average of the two parties' respective appraisals. The one-year rental period commenced on November 1, 1986.
The Wagners had an appraisal performed on the property on October 12, 1987, which assessed the property's value at $27,500. The bank's appraisal, dated December 21, 1987, estimated the property's value at $126,100. The bank's appraisal included the value of certain structures located on the property which were not included in the Wagners' appraisal. The Wagners claimed that these structures were personal property which were not permanently affixed to the ground or owned by the bank, and thus they were not part of the realty the Wagners were to purchase.
The Wagners sued the bank for specific performance of their agreement, praying that the court order the sale of the property to them for $58,786. The Wagners calculated this figure by averaging the bank's appraisal amount, less $36,028 for the value of the structures the Wagners claimed were not part of the realty, 1 and their appraisal amount. The bank counterclaimed, asking the court to order the Wagners to purchase the property for its appraisal amount of $126,100. The bank claimed that the Wagners' appraisal was improper due to the qualifications of their appraiser and prayed for past due rent from July 1, 1987. Both parties moved for summary judgment.
After hearing the arguments on the motions for summary judgment and reviewing the supporting materials, the court decided that the Wagners' appraisal was defective in that the structures in dispute, which were valued at $36,028, were wrongfully excluded as personal property. This increased the Wagners' appraisal to $63,028, 2 and the average of the two appraisals was increased to $94,514. The court also concluded that the Wagners owed the bank $12,000 in back rent. On March 13, 1989, the court entered its order setting the purchase price at $94,514 and awarding judgment for the bank and against the Wagners in the amount of $12,000. This appeal is taken from that order.
Summary judgment is proper only when there are no genuine issues of material fact and the prevailing party is entitled to judgment as a matter of law. Baros v. Wells, 780 P.2d 341 (Wyo.1989); Farr v. Link, 746 P.2d 431 (Wyo.1987). We review a summary judgment in the same light as the district court, using the same materials and following the same standards. Baros, 780 P.2d 341; Roybal v. Bell, 778 P.2d 108 (Wyo.1989). We examine the record from the vantage point most favorable to the party opposing the motion, and we give that party the benefit of all favorable inferences which may fairly be drawn from the record. Baros, 780 P.2d 341; Doud v. First Interstate Bank of Gillette, 769 P.2d 927 (Wyo.1989). A material fact is one which, if proved, would have the effect of establishing or refuting an essential element of the cause of action or defense asserted by the parties. Albrecht v. Zwaanshoek Holding En Financiering, B.V., 762 P.2d 1174 (Wyo.1988); Johnston v. Conoco, Inc., 758 P.2d 566 (Wyo.1988).
The affidavits and exhibits submitted by the parties in support of their respective positions reveal that a question of material fact exists as to whether some of the structures on the foreclosed land are fixtures or chattels. The materials submitted by the Wagners indicate that the structures were temporarily placed on the land and that they are easily removable by the owners who were not parties to the loan transaction. Although the bank's supporting materials do not allude directly to how these structures are attached to the land, they do indicate that the intent was that they become part of the security for the loan.
A chattel becomes a fixture when it becomes ...
To continue reading
Request your trial
-
Four Nines Gold, Inc. v. 71 Const., Inc.
...and we give that party the benefit of all favorable inferences which may fairly be drawn from the record. Wagner v. First Wyoming Bank, N.A. Laramie, 784 P.2d 224, 226 (Wyo.1989). This court recognizes intentional interference with a prospective contractual relationship as a cause of action......
-
Hatch v. State Farm Fire and Cas. Co., 92-22
...the standard of review for a summary judgment many times. See Hozian v. Weathermon, 821 P.2d 1297 (Wyo.1991); Wagner v. First Wyoming Bank, N.A. Laramie, 784 P.2d 224 (Wyo.1989); Davenport v. Epperly, 744 P.2d 1110 (Wyo.1987); Boehm v. Cody Country Chamber of Commerce, 748 P.2d 704 (Wyo.198......
-
Snyder v. Lovercheck
...v. Steen, 882 P.2d 852, 856 (Wyo.1994); Kilmer v. Citicorp Mortg. Inc., 860 P.2d 1165, 1167 (Wyo.1993); and Wagner v. First Wyoming Bank, N.A. Laramie, 784 P.2d 224, 226 (Wyo.1989)). We have held that summary judgment is appropriate in cases involving contracts when the language of the agre......
-
Automatic Gas Distributors, Inc. v. State Bank of Green River
...standard of review for summary judgments in Wyoming. See Jung-Leonczynska v. Steup, 803 P.2d 1358 (Wyo.1990); Wagner v. First Wyoming Bank, N.A. Laramie, 784 P.2d 224 (Wyo.1989); Jung-Leonczynska v. Steup, 782 P.2d 578 (Wyo.1989); Provence v. Hilltop Nat. Bank, 780 P.2d 990 (Wyo.1989); Baro......