Real Estate/Development
Nov. 1, 2001
Borrower Beware
By recently denying a petition for review of the 1st District Court of Appeal's decision in Nippon Credit Bank v. 1333 N. California Blvd. , 86 Cal.App.4th 486 (2001), the Supreme Court has subjected borrowers of real estate loans to new "bad faith waste" tort liabilities, and possibly even punitive damages, if they fail to pay a single installment of real property taxes incident to foreclosure of their properties due to defaults on their loans.
By Edmund L. Regalia
By recently denying a petition for review of the 1st District Court of Appeal's decision in Nippon Credit Bank v. 1333 N. California Blvd., 86 Cal.App.4th 486 (2001), the Supreme Court has subjected borrowers of real estate loans to new "bad faith waste" tort liabilities, and possibly e...
By recently denying a petition for review of the 1st District Court of Appeal's decision in Nippon Credit Bank v. 1333 N. California Blvd., 86 Cal.App.4th 486 (2001), the Supreme Court has subjected borrowers of real estate loans to new "bad faith waste" tort liabilities, and possibly e...
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