deed of trust | Your North Carolina Bankruptcy Expert

By Ed Boltz, 23 January, 2022

N.C. Court of App.: Reverse Mortgage Solutions v. Dufault- Inadequate Description of Real Property in Deed of Trust

Summary:

Paul and Anita Richardson purchased a 1.26 acre tract of land ("main property") from Old Fort Golf Course in 1962 and then in 1978 purchase two adjacent parcels consisting of 0.181 acres and 0.009 acres ("adjacent properties"). All three parcels had the same mailing address and tax parcel identification number.

By Ed Boltz, 4 December, 2021

N.C. Ct. of Appeals: BB&T v. GPAR FF, LLC- Reformation of Deed of Trust due to Mutual Mistake

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By Ed Boltz, 3 December, 2021

Bankr. M.D.N.C.: Portuesi v. BONY- Res Judicata and State Court Foreclosure

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By Ed Boltz, 2 April, 2021

4th Cir.: Old Republic v. Shulman Rogers- Mutual Mistake in Deed of Trust

Summary:

Heinz and Susan Georg refinanced their home, which was owned by them as tenants by the entireties, with First Horizon. Only Mr. Georg was, however, listed as a borrower on the mortgage note and, more consequentially, as a grantor on the Deed of Trust. Old Republic, believing that both Georgs signed the Deed of Trust, issued title insurance to First Horizon.

By Ed Boltz, 2 August, 2019

N.C. Ct. of Appeals: Deutsche Bank v. Ferguson- Illegally Recorded Satisfaction of Lien not Valid as to Innocent Bona Fide Purchaser

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By Ed Boltz, 15 July, 2019

N.C. Ct. of Appeals: Wells Fargo Bank v. Stocks- Statute of Limitation for Reformation of Deed of Trust

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By Ed Boltz, 9 July, 2019

N.C. Ct. Of Appeals: MTGLQ Investors, L.P. v. Curnin- Action to Quiet Title Due to Insufficient Property Description

Summary:

Curnin granted a Deed of Trust originally to Bank of America, but now held by MTGLQ, with a property description which included the property’s lot number and the phase of the development (“STAGE I”)but without any reference to the book and page numbers where a title searcher could find the map recorded in the Brunswick County. MTGLQ brought an action to quiet title and to reform the Deed of Trust to include the full reference.

By Ed Boltz, 3 February, 2015

N.C. Court of Appeals: Wells Fargo v. Coleman- Statute of Limitations for Reformation of Deed of Trust is a Factual Determination; Reasonable Diligence not required for Mutual Mistake

Summary: The Colemans own lots 42, 43, 44, and 45 of a subdivision, with their home located on lots 42 and 43 and lots 44 and 45 being undeveloped. In 2007, Mr. Coleman borrowed $137,567.00 from (now) Wells Fargo, secured by a Deed of Trust signed by the couple.

By Ed Boltz, 20 August, 2014

N.C. Ct. of Appeals: Bank of America v. Charlotte Property Investments- Incorrect Legal Description Insufficient to Defeat Deed of Trust

Summary: Gathings granted a Deed of Trust to Countrywide, later succeeded by Bank of America. The Deed of Trust included the correct Property Identification Number and physical address, but had an incorrect legal description. The property was subsequently sold at a foreclosure sale for homeowners dues to CPI, which did not discover the Deed of Trust in favor of Bank of America.

By Ed Boltz, 5 August, 2014

N.C. Ct. of App.: Townsend v. Watts- Partition Sale and Affect on Lienholders

Summary: Siblings, Townsend and Simmons owned real property as tenants in common. Townsend brought suit seeking a partition sale of the property, naming Simmons the lienholder, Citimortgage and the City of Greensboro, as defendants. After the trial court found that due to the size and nature of the property actual partition of the property could not be made without injury to the parties and ordered a partition sale.

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