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K & L DISTRIBUTORS v. KELLY ELEC., INC.

Supreme Court No. S-6254.

908 P.2d 429 (1995)

K & L DISTRIBUTORS, INC., Gary Levine, Mark Bennett Levine, Mike Kobylk, and Josef Diamond, executor for the estate of Violett Diamond, Appellants, v. KELLY ELECTRIC, INC., Appellee.

Supreme Court of Alaska.

Rehearing Denied January 16, 1996.

Attorney(s) appearing for the Case

Roy Longacre, Longacre & Associates, Anchorage, for Appellants.

Phil N. Nash, Kenai, for Appellee.

Before MOORE, C.J., and RABINOWITZ, MATTHEWS, COMPTON and EASTAUGH, JJ.

RABINOWITZ, Justice.

This appeal requires us to determine whether a real estate lender has a security interest in fixtures annexed to the mortgaged property as a result of a previously recorded deed of trust. Presuming such an interest exists we must also determine whether it survives severance of the fixtures from the real property.

I. FACTS & PROCEEDINGS

K & L Distributors, Inc.1 (K & L) sold a piece...

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