In First Nationwide Savings v. Perry (1992) 11 Cal.App.4th 1657, First Nationwide Savings (FNS) was the beneficiary of a deed of trust securing a loan on a single-family residence. Sunrise Trust was the owner of the property. The trustee under FNS's deed of trust mistakenly executed a deed of reconveyance. The deed was recorded. Sunrise sold the property free of FNS's trust deed. FNS brought an action against Sunrise for money had and received and unjust enrichment. The trial court sustained Sunrise's demurrer. The Court of Appeal reversed stating: "In this case, FNS, through no fault of its own, lost its security in Sunrise's property. Sunrise had no legitimate claim to this previously secured portion of the property, and arguably knew or should have known it did not own all of the property. Nonetheless, it sold the property and pocketed all of the proceeds. Given these circumstances, this may prove to be a classic case of unjust enrichment." (Id., at pp. 1670-1671.)