Hembree v. Nowlin

THIGPEN, Judge.

This is a contract case.

The record reveals that Bobby D. and Glenda Hembree sold certain property to William D. Permenter for the purchase price of $21,750. As part of the purchase price, the Hembrees agreed to accept a promissory note in the amount of $2,685.16, together with interest in a stated amount, payable in 24 equal monthly installments secured by a purchase money second mortgage on the premises. H.M. Nowlin, an attorney, was retained by Permenter to close the sale.

Nowlin claims that he failed to list the second mortgage loan as a deduction from the proceeds due the…