Miller v. Presswood

OPINION

DIES, Chief Justice.

On or about April 3, 1984, Johnny Miller and Betty Miller, Appellants, purchased a 24-acre tract of land in Liberty County from C. Ed Presswood and James Faulkner, Appellees. Appellees conveyed the property by warranty deed. Appellants made a cash down payment of $25,000 and, as further consideration for the transfer, they also executed a promissory note for $215,000, plus interest, together with a deed of trust to secure the note.

The Millers made the monthly payments on the note for fifteen months after the transaction. Then, Appellants filed their original…