Hayne Federal Credit Union v. Bailey

TOAL, Acting Chief Justice:

In this foreclosure action, Hayne Federal Credit Union (“Credit Union”) appeals from the order of the special referee who held that Harold Bailey (“Father”) owned the property in dispute by virtue of a resulting trust. We reverse and remand.

Factual/Procedural Background

Father contracted to purchase a house located on Pumpkin Lane in Sumter County. He had put down $25,000 in earnest money to make the purchase. The real estate agent involved in the transaction indicated that Father had told her to prepare the contract identifying Father’s son, William E. Bailey…