Shine Laundry, Inc. v. Washington Loan & Banking Co.

Hall, Judge.

For the purpose of this case the difference between a mortgage and a deed to secure debt is immaterial. Stapler v. Anderson, 177 Ga. 434, 435 (170 SE 498). Therefore, for convenience we will sometimes refer to the grantor of a deed to secure debt as the “mortgagor” and the grantee of a deed to secure debt as the “mortgagee.”

It is the law in Georgia, as in other jurisdictions, that when the owner of property encumbered by a mortgage or a deed to secure debt, transfers his interest in the property to another, and the holder of the mortgage or deed to secure debt by agreement with…