JAS, Inc. v. Eisele

JAS, Inc. purchased certain property at a trustee’s sale. JAS later filed a quiet title action, naming several defendants, including Mortgage Electronic Systems, Inc. (MERS), Countrywide Home Loans, Inc., and OneWest Bank, FSB. Bank of America, N.A. (BOA), the successor to Countrywide, later intervened. The district court granted summary judgment in favor of BOA, concluding that the trustee’s sale of the property was void ab initio for failure to strictly follow Montana’s foreclosure laws. The Supreme Court affirmed, holding (1) the district court properly voided the sale on the basis of failure of strict compliance with the Small Tract Financing Act of Montana; and (2) the issue of JAS’s recovery of the funds it paid to OneWest Bank at the trustee’s sale was not properly before the Court. View "JAS, Inc. v. Eisele" on Justia Law