Beverly v. Sovran Bank, N.A.

By JUDGE J. ROBERT STUMP

This was a judge trial at which the primary issue, one of first impression in Virginia, is may a trustee pursuant to one Virginia deed of trust conduct two separate foreclosure sales?

The court reviewed the pleadings and ore tenus evidence, as well as the oral arguments and briefs of counsel and makes the following findings of fact and conclusions of law.

Facts

By standard Virginia deed of trust dated June 28, 1979, Herman and Mazie Beverly and Southern Mine Supply Co., (a family-owned corporation of the Beverlys), conveyed three separate tracts of land to Kenneth P.…