First Citizens National Bank v. Sherwood

OPINION

Chief Justice CAPPY.

This is a statutory construction matter. Specifically, we are asked to determine whether a purchaser of real property has constructive notice of a mortgage when the mortgage is properly recorded but defectively indexed. For the reasons that follow, we conclude that the applicable statutory authority mandates that a purchaser in such an instance is deemed to have constructive notice. Accordingly, we reverse the order of the Superior Court.

First Citizens National Bank (“First Citizens”) bought a piece of real property, which had been owned by J. Joel Turrell as…