Littlebrook Airpark Condo. Ass’n v. Sweet Peas, LLC

John Hardy leased part of land to Littlebrook Airport Development Co. (LADC). John Hardy died, leaving his wife Jean as the sole surviving owner of the leased property. In 2005, Jean sold the leased property to and assigned her interest in the lease to Littlebrook Ventures (LV), which executed a mortgage in Hardy's favor. Pursuant to the mortgage LV agreed not to modify the lease without Hardy's prior consent. LADC then assigned its interest in the lease to Windmill USA. Windmill and LV purported to amend the lease in accordance with a previously executed declaration amendment. LV later conveyed the property back to Hardy by a deed in lieu of foreclosure. Hardy purchased the property at a foreclosure sale and conveyed it to Sweet Peas, LLC. Littlebrook Airport Condominium Association then brought this action seeking a declaratory judgment clarifying the rights of the parties pursuant to the lease. At issue was the effectiveness of the unrecorded amendment to the lease that violated the recorded mortgage covenant. The superior court concluded that the lease amendment was effective. The matter came before the Supreme Court on report. The Court discharged the report, concluding that acceptance of the report would improperly place the Court in the role of an advisory board. View "Littlebrook Airpark Condo. Ass'n v. Sweet Peas, LLC " on Justia Law