Wolk v. Resolution Trust Corp.

COWART, Judge.

Cohen, an attorney, sold an apartment complex, subject to a mortgage, to appellants, Steven Jay Wolk, an attorney, and Wolk’s parents. The son acted as attorney for his parents in the transaction. The *860contract of sale provided in part that the conveyance was:(b) Subject to AND assumption of Mortgage in favor of American Pioneer Savings ... having an approximate present principal balance of $185,000 ... (Emphasis added.)

The closing statement provided in part under the topic, “Credits to Buyer”:...Existing Mortgage Assumed by Buyer from

AMERICAN PIONEER.$185,774.72

(Emphasis added.)

T…