BV Jordanelle v. Old Republic National

At the heart of this appeal was the dispute over the scope of an insurance policy. The insureds, BV Jordanelle, LLC and BV Lending, LLC (collectively, "BV") obtained a mortgage on real property as security for a loan and acquired a title-insurance policy from Old Republic National Title Insurance Company. When the borrower defaulted, BV foreclosed on the property. But when a municipal assessment went unpaid, the municipality foreclosed, too. BV and the municipality litigated in state court; the municipality prevailed and obtained title to the property. After losing title to the property, BV sued Old Republic in federal district court, alleging that Old Republic had breached the title insurance policy by: (1) refusing to compensate BV for its loss of the property; and (2) failing to defend BV in the state-court litigation. The district court granted judgment on the pleadings to Old Republic, concluding that the policy did not entitle BV to either payment for its loss of the property or a defense in the state-court suit. BV appealed, but finding no reversible error, the Tenth Circuit affirmed. View "BV Jordanelle v. Old Republic National" on Justia Law