Interstate Life Insurance Company v. Turner

WILSON, Justice.

Judgment setting aside a trustee’s deed and sale proceedings under a deed of trust was rendered after a nonjury trial. Findings and conclusions were filed. We reverse and remand in part, and in part reverse and render.

Willow Springs Development Co. and another executed a $48,500 vendor’s lien note, additionally secured by a deed of trust, which was assigned to appellant Interstate Life Insurance Co. The note was payable in five installments of $9700 each, plus accrued interest, due October 19, 1960, and on October 19th annually thereafter. The first installment was not paid…