Kim v. Kim CA2/7
Hyun Sook Kim, aka Wendy H. Kim (Wendy), sued Myungja Kim (Myungja) for equitable relief in connection with loans totaling $500,000 that Wendy’s father made to Myungja in 2006 and 2007. Wendy alleged that Myungja agreed to repay the loans from the proceeds of the sale of property she owns, but that she never sold that property and never repaid the loans. Following a bench trial, the trial court entered judgment for Wendy (as her father’s assignee) on claims for foreclosure under equitable mortgage, unjust enrichment, and the imposition of a constructive trust. The amount of the judgment was $500,000, plus prejudgment interest at 10 percent per annum accruing from October 2008. Because it found that Myungja’s sale of her property was a condition precedent to her repayment obligation, the court stated that the judgment is not payable until the property is sold. To protect Wendy’s stake in the sale proceeds, however, the court established in her favor an equitable lien on My
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