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Petitioner husband discussed this problem with Haluk, and the two
agreed that Haluk and his wife, Aysun, would obtain financing, in
their names, for the purchase of the Alisal property, and that
legal title to the property would be transferred to Haluk and
Aysun. They further agreed that, upon the purchase of the Alisal
property, petitioners and their children would occupy the Alisal
property, and petitioners would make all mortgage payments on the
property as well as paying all expenses for repairs, maintenance,
and improvements. Basically, they agreed that Haluk and Aysun
would execute documents necessary to procure title to and
financing for the Alisal property, and petitioners would
exclusively occupy the property and perform all the obligations
pursuant to ownership of the property, financial and otherwise.
All of these agreements were oral but are undisputed.
On April 9, 1990, a Grant Deed was issued to Haluk and Aysun
for the Alisal property. Initially, the Alisal property was sold
by an assumption of the existing mortgage on the property.
Petitioners made mortgage payments directly to the mortgagee. In
October 1990, Haluk and Aysun refinanced the loan, and, pursuant
thereto, a Deed of Trust was executed on October 5, 1990, listing
Haluk and Aysun as borrowers. The Deed of Trust was in the
amount of $202,500 and was in favor of Southern California
Federal Savings and Loan Association (Southern California
Federal). The Deed of Trust on the Alisal property served as
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