Judge: Elaine W. Mandel, Case: SS022245, Date: 2023-03-09 Tentative Ruling
Case Number: SS022245 Hearing Date: March 9, 2023 Dept: P
Group, LLC v. Olympic 2000 Investments Group, Case No. SS022245
Hearing Date March
Group, LLC’s OSC re: Application for Sale of Dwelling
Group holds multiple judgments against defendant Avraham Hassid, totaling $3,762,510.61.
Alleging Hassid made no payments, Canico moves for a sale of Hassid’s dwelling
to satisfy the judgment. Hassid argues the sale cannot proceed because there
are senior liens attached to his dwelling which prevent Canico’s judgment being
satisfied by a sale.
creditor applying for sale of a dwelling must comply with various requirements
of Cal. Code of Civ. Proc. §704.760. The amount of the homestead exemption is capped
by Cal. Code of Civ. Proc. §704.730. When an application is made, the court
shall determine the amount of the homestead exemption and will order a sale of
dwelling subject to the exemption unless the court determines the sale of the
dwelling would not be likely to produce a bid sufficient to satisfy any part of
the amount due on the judgment. Cal. Code of Civ. Proc. §704.780.
Canico argues Hassid’s
property is appraised at $5.2 million, so a sale would satisfy the homestead
exemption of $100,000, outstanding property taxes and senior deeds of trust of $1,379,394.25
and Canico’s judgment liens for $3,762,510.61.
Canico admits the
property is encumbered by a senior $5.5 million deed of trust recorded in favor
of Nasser Saghian on September 11, 2012. Motion exhibit P. If the property is
sold subject to this lien, by Canico’s own calculation, there will be no funds
to satisfy the outstanding judgments once the Saghian deed of trust is paid off.
Canico argues Saghian’s lien is a sham. Canico argues Saghian did not loan
Hassid any money, and his lien was only recorded to block a sale of the
property, preventing Canico from collecting on its judgment. Canico argues the
Saghian lien should be treated as $0, allowing all other liens to be satisfied
upon sale of the dwelling.
The court takes
judicial notice of case no. 21STCV45128, Canico Capital v. Hassid, et al., pending
in department 50 in Stanley Mosk Courthouse and scheduled for jury trial on May
17, 2023. In that action, Canico seeks a judicial declaration as to the
validity of the Saghian lien. See complaint in 21STCV45128 ¶¶14, 17, 38.
overlapping issues in these actions, as both question the validity of the
Saghian lien. The Mosk action was filed December 10, 2021, a year before Canico
filed its application for sale of dwelling and raised the issue of the validity
of Saghian’s lien in this court. If the court determined the validity of the
Saghian lien, it would risk issuing a ruling in conflicts with the outcome of
the Mosk action. Since both courts are asked to resolve an identical issue, this
court defers to the earlier-filed action. The motion is continued to a date
following the outcome of 21STCV45128. The court declines to rule on the
evidentiary objections in light of the court’s order.