John Broms, M.D., executed a revocable trust on January 28, 2003. The trust corpus was identified in exhibit "A" to the trust agreement, and that corpus consisted of two bank accounts and a Toyota automobile. There is no indication that the trust was ever amended or republished.
On March 7, 2006, Dr. Broms as an individual purchased the real property at 350 Paseo de Playa, Ventura, California. The purchase price was secured by a $300,000 first trust deed in favor of First Federal Bank of California and a $650,000 second trust deed. The subordinate mortgage, peculiarly, was executed by Dr. Broms as trustee of the January 28, 2003 Broms Trust, in favor of Dr. Broms, as trustee of the Lila V. Broms Trust dated October 28, 1996.
Absent the ambiguity created by the named mortgagor of the second deed of trust, under Estate of Heggstad (1993) 16 Cal.App.4th 943, the January 28, 2003 trust would not be susceptible to the inclusion of 350 Paseo did Playa as part of the trust corpus. Nor, under
Hearing Date
April 23, 2015
For full print and download access, please subscribe at https://www.trellis.law/.
John Broms, M.D., executed a revocable trust on January 28, 2003. The trust corpus was identified in exhibit "A" to the trust agreement, and that corpus consisted of two bank accounts and a Toyota automobile. There is no indication that the trust was ever amended or republished.
On March 7, 2006, Dr. Broms as an individual purchased the real property at 350 Paseo de Playa, Ventura, California. The purchase price was secured by a $300,000 first trust deed in favor of First Federal Bank of California and a $650,000 second trust deed. The subordinate mortgage, peculiarly, was executed by Dr. Broms as trustee of the January 28, 2003 Broms Trust, in favor of Dr. Broms, as trustee of the Lila V. Broms Trust dated October 28, 1996.
Absent the ambiguity created by the named mortgagor of the second deed of trust, under Estate of Heggstad (1993) 16 Cal.App.4th 943, the January 28, 2003 trust would not be susceptible to the inclusion of 350 Paseo did Playa as part of the trust corpus. Nor, under