Southeast Timberlands, Inc. v. Haiseal Timber, Inc.

I agree with the conclusion reached by the majority that Haiseal Timber’s action is, in reality, a deficiency action barred by OCGA § 44-14-161 because Haiseal failed to obtain confirmation of its nonjudicial foreclosure. Southeast Timberlands’ promissory note to Haiseal was secured by a single security deed listing numerous *103pieces of property. The “default” on which Haiseal based its foreclosure was the claimed violation of a clause in that security deed. As the majority opinion correctly concludes, the obligation allegedly created by that clause was not independent but was part and parcel…