Williams v. Oconee County Bank

1. A security deed under the provisions of the Civil Code (1910), §§ 3306, 6037, and 3310, was executed to secure a pre-existing debt owed by the grantor to the grantee and any debt by the grantor to the grantee “which may hereafter arise.” After execution of the security deed, the grantor obtained an additional loan from the grantee. Held: (a) In a contest arising after the additional loan between the security deed and a prior unrecorded deed by the grantor to a third person, the grantee in the security deed occupied the position of a purchaser for value upon a present consideration; and if…