Making Sense Out of Insurance, Condemnation, and Settlement Clauses in Deeds of Trust

3 Pages Posted: 22 Mar 2011

See all articles by Roger Bernhardt

Roger Bernhardt

Golden Gate University - School of Law

Date Written: May 1, 2003

Abstract

This article discusses a California case that held that moneys received by trustors in settlement of their damage claims against a contractor need not be turned over to their lender pursuant to their deed of trust, but concludes that other court are not likely to agree with the holding that "owed" means "amounts currently due and payable" instead of principal balance, and that lenders will probably revise their forms to escape that reasoning.

Keywords: Owed, damage claim settlement, deed of trust, debt, insurance proceeds, condemnation awards, litigation awards, litigation settlement, Kasdan, Simonds, McIntyre, Epstein & Martin v World Sav. & Loan Ass’n, In re Emery

JEL Classification: K11

Suggested Citation

Bernhardt, Roger, Making Sense Out of Insurance, Condemnation, and Settlement Clauses in Deeds of Trust (May 1, 2003). Available at SSRN: https://ssrn.com/abstract=1789806 or http://dx.doi.org/10.2139/ssrn.1789806

Roger Bernhardt (Contact Author)

Golden Gate University - School of Law ( email )

536 Mission Street
San Francisco, CA 94105
United States

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