General Bancshares, Inc. v. Volunteer Bank & Trust

OPINION

FRANKS, J. and SUSANO, J. joined.

The Plaintiff, General Bancshares, Inc., filed a declaratory judgment action asking the Trial Court to declare a restrictive covenant in its warranty deed unenforceable. Defendant Volunteer Bank & Trust’s predecessor in title of the property at issue originally placed the restriction on the property several years ago. Plaintiff contends, among other arguments, that the restrictive covenant does not bind it as a remote grantee because the restrictive clause does not contain specific “successors and assigns” language. Both parties filed Motions for…