Turner v. Carey

Oxner, Justice.

On June 3, 1948, appellant, P. A. Carey, Sr., sold to respondent, S. E. Turner, a house and lot near the City of Spartanburg for $11,000.00. Turner assumed a mortgage for $6,000.00 held by the Citizens and Southern National Bank, gave a second mortgage to Carey for $2,000.00, and paid the balance of $3,000.00 in cash. The mortgage held by the bank was payable in monthly installments of $62.18. The $2,000.00 mortgage held by Carey was payable in installments of $500.00, semi-annually.

On the day following the sale, Turner went into possession. It was a new house. Several months…