Bowers v. Tansamerica Title Insurance Co.

675 P.2d 193 (1983)

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Nature of the Case

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Facts

Bowers (P) sold property to Quantum for $10,000 down and the balance for a $35,000 note. Transamerica (D) was the closing agent for the transaction. The transaction was not done by an attorney and when the documents were prepared the agent asked Quantum if the note was to be secured, and Quantum pointed out that the earnest money agreement did not indicate that was to be so. The agent then prepared a note that was unsecured by the real estate. The parties executed the closing. The deed was delivered to Quantum, and they in turned borrowed $30,000 using the property as security. A petition in bankruptcy was filed against Quantum in 1979. Its officers fled the scene and were nowhere to be found. P then sued D in that D was engaged in the unauthorized practice of law. The trial court granted summary judgment on the issue of liability.