Chemical Bank v. Belk

MARTIN (Robert M.), Judge.

We note at the outset that, according to an addendum to the record filed by the parties, the property in question has been sold by mutual consent of the parties, mooting any discussion of foreclosure on these facts. We also have noted the opinion of our Supreme Court in Ross Realty Co. v. Trust Co., 296 N.C. 366, 250 S.E. 2d 271 (1979), reversing the ruling of this Court in the same case at 37 N.C. App. 33, 245 S.E. 2d 404 (1978). Under Ross Realty, it is clear that where a mortgage or deed of trust is executed by a vendee to secure to the vendor the balance of the…