Question

Philip and Edith Beh purchased some property from Alfred M. Gromer and his wife. Sometime earlier, the Gromers had borrowed money from City Mortgage. They had signed a note and had given City Mortgage a second deed of trust on the property. There was also a first deed of trust on the property at the time the Behs purchased it. In the contract of sale between the Behs and the Gromers, the Behs promised to "assume" the second deed of trust of approximately $5,000 at 6 percent interest. The Behs later defaulted on the first deed of trust. Foreclosure was held on the first deed of trust, but the proceeds of the sale left nothing for City Mortgage on its second deed of trust. City Mortgage then brought a lawsuit against the Behs to collect the balance due on the second deed of trust. When the Behs "assumed" the second deed of trust, did they become personally liable for it?



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  • CreatedJuly 16, 2014
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