Rakestraw v. Dozier Associates, Inc.

Ness, Justice:

This is a mortgage foreclosure case. The master, hearing the case with finality, dismissed the foreclosure action holding appellants-mortgagee waived their right to foreclosure for breach of the due on sale clause by accepting payments for seventeen months after notice the property had been transferred. We affirm.

In September, 1980 appellants-mortgagee, the Rake-straws, sold property to respondent Dozier Associates, Inc. and financed the purchase by accepting a mortgage containing a standard due on sale clause.

By deed recorded in January, 1981 respondent Dozier Associates, Inc.…