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SUPREME COURT, STATE OF COLORADO Court Address: 2 East Fourteenth Avenue Fourth Floor Colorado State ... - page 4 / 22

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Amicus curiae The Real Estate Law Section of the Colorado Bar Association, by and

through its attorneys, Durfee West P.C., respectfully submits its brief in support of reversal of

the decision of the Court of Appeals.

STATEMENT OF INTEREST OF THE REAL ESTATE LAW SECTION OF THE

COLORADO BAR ASSOCIATION

The Colorado Bar Association ("CBA") represents 15,722 licensed attorneys in the State

of Colorado. The Real Estate Law Section of the CBA has 1,834 members who are specifically

interested in real estate law and titles. The Real Estate Law Section has a Title Standards

Committee which promulgates title standards for approval and adoption by the Colorado Bar

Association as a whole. The Title Standards set forth the accepted practices and procedures for

searching title in the State, and assist title examiners in evaluating marketability of title. Real

estate lawyers represent buyers, lenders, and sellers who are concerned with the marketability of

title and the accuracy and completeness of title records.

In this case, the Court of Appeals applied the doctrine of equitable subrogation to put a

lender who financed the purchase of real property, and buyers who also advanced funds, into the

lien position of a deed of trust that was paid off when the property was sold, and ahead of a valid

judgment lien that was properly recorded two months prior to the sale. The seller, who was the

judgment debtor, did not disclose the judgment lien to the purchasers, the lender, or the title

company. The judgment lien was junior to the deed of trust that was paid and released, but it

was recorded two months prior to the date of the sale to the Londres and prior to the recordation

of the deed of trust for the benefit of Chase Manhattan Mortgage Corporation.

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