A recent secured real property case decision by the Court of Appeal of California\u2019s Third Appellate District in Schmidli v. Pearce establishes a split between appellate districts on whether a 10 or 60 year statute of limitations applies to a lender\u2019s recorded trust deed if the deed\u2019s maturity date of the obligation secured by the trust deed are not stated in the recorded trust deed.<\/p>\n
In the case of Nancy A. Schmidli et al. v. Rodney K. Pearce et al. recently decided by California\u2019s Court of Appeal in the Third Appellate District (San Joaquin), the plaintiffs sought to extinguish a lien of deed of trust held by defendants against their property. Schmidli et. al. claimed that the defendants\u2019 lien had expired under a 10-year statute of limitations triggered by defendant\u2019s recording of a notice of default employing as a rationale that the \u201crecord\u201d from which to determine the maturity date of the (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" A recent secured real property case decision by the Court of Appeal of California\u2019s Third Appellate District in Schmidli v. Pearce establishes a split between appellate districts on whether a 10 or 60 year statute of limitations applies to a…<\/span><\/p>\n