Rutland Savings Bank v. Pyle

Rutland Savings Bank (the bank) sued to foreclose against real property that appellants David and Gail Pyle, as tenants by the entirety, and John T. Claiborne, III had mortgaged as tenants in common.

After filing its complaint, the bank extended a written invitation to all parties, including the appellants, expressing a desire to assign its interest as mortgagee. The letter asked that any party objecting to assignment communicate its objections. Appellants neither offered to purchase the bank’s interest, nor objected to an assignment. Thereafter, appellee E. C. Crosby & Sons, Inc. (Crosby),…