Gilmore-Puckett Lumber Co. v. Bank of Tupelo

ON the Direct Appeal

On April 2, 1927, appellant purchased from C. C. Morgan all the timber of a certain description on a described tract of land, and received a deed therefor. At the time the property was encumbered by a recorded deed of trust given by Morgan to appellee and remained so encumbered for an amount greater than the value of the said timber; and although the deed of trust has now been foreclosed, there yet remains a balance due in excess of the value of the timber. In the fall of 1927, the timber was cut and removed by the B. H. Baine Lumber Company; but the bank being of the…