New York Life Insurance Co. v. Doane

2 Citing cases

  1. Cosentino v. Coastal Construction Co.

    30 Cal.App.4th 1712 (Cal. Ct. App. 1994)   Cited 2 times

    (Civ. Code, § 3532) The power of sale is a part of the security and is a power coupled with an interest that survives the death of the trustor-debtor. (Civ. Code, § 2932.5; New York Life Ins. Co. v. Doane (1936) 13 Cal.App.2d 233, 238 [ 56 P.2d 989].) If the mortgagee fails to present a claim against the trustor's estate, his recourse is limited to the mortgaged property.

  2. O'Neil v. General Security Corp.

    4 Cal.App.4th 587 (Cal. Ct. App. 1992)   Cited 57 times
    Relying on both Schwenke and Walker to hold that the debtor's waiver of the sanction aspect of § 726 did not operate to deprive third party lienholders of the protections of § 726

    (4) When a debt secured by a mortgage becomes unenforceable because of the creditor's failure to initiate enforcement actions before the statute of limitations has lapsed, the creditor is barred not only from suing on the debt but also from realizing the security either by judicial foreclosure ( Aguilar v. Bocci (1974) 39 Cal.App.3d 475, 477 [ 114 Cal.Rptr. 91]) or by exercise of the power of sale. ( New York Life Ins. Co. v. Doane (1936) 13 Cal.App.2d 233, 238 [ 56 P.2d 989].) This statute of limitations defense is deemed a "personal" defense waivable by the debtor ( Prussing v. Prussing (1939) 35 Cal.App.2d 508, 515 [ 96 P.2d 128]).