Bartles v. Livingston

Bell, Justice:

This is an action for a deficiency j udgment by the holder of a second mortgage on real estate. The circuit court denied relief and the mortgagee appeals. We reverse and remand.

Lewis Bartles and Mark Livingston are medical doctors. In the spring of 1976 Livingston joined Bartles in his medical practice. Through Bartles, Livingston learned that one Benjamin McGraw, a business associate of Bartles, had decided to sell his house at Tega Cay in York County for $125,000.00. At that time the property was subject to two mortgages: a first mortgage to North Carolina National Bank…