First Union National Bank v. Smith

Goolsby, Judge:

First Union National Bank of North Carolina brought this action under the Statute of Elizabeth, S.C. Code Ann. § 27-23-10 (1991), to set aside a mortgage issued by Ronnie Gene Smith to his father, Bill Smith. The master set aside the mortgage, finding that the Smiths failed to establish a valid debt between them and that Ronnie Smith gave the mortgage to his father to delay, hinder, and prevent First Union from collecting the debt owed to it by Ronnie Smith. The Smiths appeal. We affirm.

According to the Smiths, Ronnie Smith’s father gave him the following loans: $65,000.00 in…