Brown v. Rooks

The issues presented in this case are similar to those treated in the first division of this court’s decision in Trust Invest. &c. Co. v. First Ga. Bank, 238 Ga. 309 (232 SE2d 828) (1977). That decision held that a holder of a note who is also the grantee of a deed to secure the indebtedness of the note is not forced to exercise the power of sale in the deed to secure debt. On the contrary, he may at his option elect to sue on the note and to exercise his rights pursuant to Code Ann. § 67-1501 or to exercise the power of sale, to seek judicial confirmation of the sale and to sue for…