[DOWNLOAD] "William G. Brask v. Bank St. Louis" by St. Louis District Missouri Court of Appeals * eBook PDF Kindle ePub Free
eBook details
- Title: William G. Brask v. Bank St. Louis
- Author : St. Louis District Missouri Court of Appeals
- Release Date : January 18, 1975
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 62 KB
Description
This appeal involves a declaratory judgment action seeking determination under § 448.080 of the Missouri Condominium Property Act 1 of the priority of rights between condominium common expense liens and prior recorded deed of trust encumbrances. The trial court found that the common expense liens were superior to the deed of trust encumbrances. The deed of trust holders appeal, urging that the trial court's decision is contrary to the express statutory language of § 448.080(2) RSMo. 1969. We find that the trial court's decision is contradictory to § 448.080 and reverse the judgment. The facts have been stipulated. Plaintiff-s respondents are the duly elected board of managers of Hazelcrest I and II Condominium located in St. Louis County. Defendants-appellants Bank of St. Louis, Pulaski Savings & Loan Association and Prudential Savings and Loan Association are lending institutions and holders of deeds of trusts on certain units in Hazelcrest I & II Condominium. The other defendants-appellants are unit owners of the condominium, having purchased their units after deed of trust foreclosure. The Hazelcrest Condominium declaration was recorded on October 21, 1964 in accordance with the Missouri Condominium Property Act. By virtue of the recorded declaration, each year plaintiffs have assessed an estimated cost amount to each unit owner to cover the common expense costs incurred by the condominium management for the benefit of all the unit owners. 2 The assessment for the common expense costs is made in proportion to each owner's percentage of ownership in the common elements. 3 The Hazelcrest Condominium declaration contains a provision taken from the matrix of § 448.080(2) establishing a lien for common expenses on any unit of the property for which the common expense has not been paid. § 448.080(2), in pertinent part, provides: