Legal Question in Wills and Trusts in California

Interesting situation. It seems the court found Sam and Bill to essentially be tenants in common as to an undivided half interest each for Sam's life coupled with a remainder in fee to Bill. At least that's as close as I can come to a proper description of their respective interests. Assuming that is correct, then that is what WAMU took when it foreclosed, a TIC for Sam's life followed by a fee remainder, and that is what WAMU would sell to you, IF WAMU was a party to the quiet title action. If not, it is not binding on WAMU and if WAMU did not have notice of the claim of a life estate at the time it made the loan(s) then it may own it clear of Sam's life estate. What does WAMU claim it has to sell? If WAMU holds the TIC for life of Sam plus remainder in fee, you would become a co-tenant with Sam, with equal rights of ownership and occupancy, and equal duties to bear the joint expenses of owning the proeprty. If WAMU was not subject to the judgment, then you would take full clear title (and buy a follow-up quiet title action against Sam) with the right to collect rent from or evict Sam (after winning the quiet title action).

I don't agree with Mr. McCormick, because Bill and Sam are not tenants in common. Sam has a life estate, and Bill had a remainder interest.

If the bank foreclosed, it obtained Bill's remainder interest, subject to Sam's life estate. When Sam dies, the Bank owns the property as a foreclosing remainderman. The bank does not have to be a party to the quiet title, the only issue is whether the quiet title judgment was recorded prior to any deed of trust.