Cox v. Townsend

Plaintiffs appeal from an order of the trial court denying their request to void a foreclosure sale.

The land in question is an 1,100-acre tract originally owned by defendants Townsend, who had acquired it by 13 separate conveyances between 1941-1953. The land was used by defendants for farming purposes. In 1975, the property was sold to the plaintiffs for $1,200,000.

Plaintiffs assumed the first mortgage and made a $50,000 down payment. After the property was conveyed to them, no further payments were ever made.

Approximately a year later, foreclosure proceedings were instituted and the…