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Robin v. Crowell
Steve and Marta Weinstein owned several parcels of vacant land, which they anticipated developing. Plaintiffs, including Cathleen Robin, loaned the Weinsteins $450,000 secured by a deed of trust on one of the properties. Later, without Plaintiffs’ knowledge, the Weinsteins and Defendant Al Crowell recorded a second deed of trust on the property securing a $250,000 promissory note for a loan from Crowell.
The note between Plaintiffs and the Weinsteins permitted Plaintiffs to accelerate their loan in the event a tentative subdivision map for the development of the property was not approved by January 1, 2008. Indeed, after the deadline passed without approval of a tentative subdivision map, Plaintiff Robin accelerated the loan due date to April 5, 2008, and the Weinsteins failed to pay the loan by that accelerated due date.
Ohio Supreme Court Confirms Marketable Title Act Extinguishes Oil and Gas Interests
USA
December 11 2020
On December 2, 2020, the Supreme Court of Ohio rendered an Opinion on the application of the Marketable Title Act (“MTA”) to severed oil and gas interests, in light of more recent enactment of the Dormant Mineral Act (“DMA”). Prior to this decision, the industry did not have one cohesive view and application of the MTA; operators, law firms and landowners held various opinions on the application of the MTA to severed oil and gas interests. Importantly, the Court held that there is no “irreconcilable” conflict between the statutes, and therefore,