Regions Bank v. Wingard Properties, Inc.

This appeal arises out of a nonjury trial resulting in an order awarding Respondent Ray Covington a first priority equitable lien superior to the mortgage of Appellant Regions Bank. On appeal, Regions Bank argues it should have priority because Covington’s deposit check on his contract with Wingard Properties, Inc. (Wingard) was not cashed prior to the recording of Regions Bank’s mortgage. We affirm. 1

FACTS

Regions Bank filed a complaint in the circuit court, seeking foreclosure of three different mortgages with Wingard. 2 As collateral for a $7,000,000 revolving construction loan, Wingard…