Noel Williams Masonry, Inc. v. Vision Contractors of Charlotte, Inc.

COZORT, Judge.

A lending institute loaned money to a contractor for development of a piece of property in Charlotte. The lender accepted a deed of trust on the property from the contractor as security for the loan; however, when the lender recorded the deed of trust, it failed to record a legal description of the property. The contractor defaulted on its payments to the lender and to subcontractors who provided materials and services. Three subcontractors obtained liens on the property. After the dates of attachment of the subcontractors’ liens, the lender rerecorded the deed of trust to…