Eriksson v. Eriksson Sibley et al.
Annotate this CaseA mother, son, and daughter conveyed real property among themselves by competing deeds. The daughter used the property as security for two bank loans and defaulted on the second one; when the bank attempted foreclosure, the son, claiming to be the property’s owner, brought suit against the bank on a constructive notice theory, also alleging that the daughter’s deed to the property was void because of fraud. The superior court found that the bank lacked notice of the son’s alleged adverse interest and granted it summary judgment as a bona fide lender. The court also dismissed the fraud claim. The son appealed. After review, the Alaska Supreme Court affirmed the grant of summary judgment on the bank’s bona fide lender status, but remanded for a determination of whether the daughter acquired her deed as a result of fraud in the factum, which, if proven, would render her title and the bank’s mortgage interest void.
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