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Tag Archives: Deed of Trust

Real Property – Possibility of Reverter – Subordinate Deed of Trust – ConReal Property – Possibility of Reverter – Subordinate Deed of Trust – Constitutional – No Taking – First Impressionstitutional – No Taking – First Impression (access required)

Camden County v. Northeastern Community Development Corp. (Lawyers Weekly No. 002-021-17, 14 pp.) (James Dever III, C.J.) 2:15-cv-00021; E.D.N.C. Holding: The defendant U.S. Department of Agriculture lent defendant Northeastern Community Development Corp. (NCDC) the funds to build a child care ...

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Real Property – Deed of Trust – Reformation Request – Bona Fide Purchasers for Value – Prejudice (access required)

Branch Banking & Trust Co. v. Teague When judgment creditors agreed to reduce the judgment debtors’ $800,000 debt by $200,000 in exchange for the debtors’ property, the judgment creditors became bona fide purchasers for value. The judgment creditors were not required to prove that they relied on the mistaken property description in the plaintiff-bank’s deed of trust on the debtors’ land.

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Real Property – Deed Reformation – Scrivener’s Error – Deed of Trust – Priority (access required)

S.T. Wooten Corp. v. Front Street Construction, LLC After the defendant-bank’s deed of trust on the defendant-owner’s property was recorded, and after the plaintiff-subcontractor performed work on the property, the owner and grantor recorded a new deed to correct a scrivener’s error that had incorrectly conveyed only a one-half interest to the owner when both parties intended that a 100 percent interest be conveyed. In order to reflect the corrected deed, the bank’s deed of trust was re-recorded, but this occurred after the subcontractor had performed work on the property. The trial court correctly reformed the deed and declared the bank’s deed of trust superior to the subcontractor’s lien.

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Real Property – Subleases – Materialmen’s Liens – Deeds of Trust – Foreclosure – Title Search – Claim of Lien – Notice of Claim of Lien – Discharge (access required)

  Pegram-West, Inc. v. Sandra Anderson Builders, Inc. (Lawyers Weekly No. 11-16-0297, 26 pp.) (Ann Marie Calabria, J.) Appealed from Guilford County Superior Court (Ronald E. Spivey, J.) N.C. App. Unpub. Click here for the full text of the opinion. ...

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