Coleman Road Associates, Ltd. v. Culpepper

Johnson, Judge.

Coleman Road Associates, Ltd., purchased real property from Dorothy Tanner Culpepper. Coleman, through its general partner Carl Callum, executed a promissory note and deed to secure debt in favor of Culpepper, who financed the purchase. Coleman defaulted on the note by failing to make the required monthly payments. Pursuant to the power of sale contained in the deed to secure debt, Culpepper foreclosed on the property, purchasing it herself at the foreclosure sale. Culpepper did not seek judicial confirmation of the foreclosure sale, but instead filed the instant lawsuit…