Branch Banking & Trust Co. v. Kenyon Investment Corp.

EAGLES, Judge.

The question presented by this appeal is whether BB&T may foreclose on the deed of trust to the real property acquired by Kenyon and Rice from the Gardners through foreclosure. For the reasons set out below, we hold that BB&T has the right to foreclose on the land and that they were entitled to summary judgment in their favor.

I

Prior to the foreclosure by Kenyon and Rice (hereafter collectively referred to as Kenyon), Independence National Bank (Independence) held a recorded deed of trust to the property as security for a $152,000 promissory note on which Max Gardner was the…