S.T. Wooten Corp. v. Front Street Construction, LLC

MARTIN, Chief Judge.

In October 2006, the Harlton Tate McKee Revocable Trust (“McKee Trust”) sold certain real property in Orange County to Hillsborough Residential Associates (“Hillsborough”). The deed, recorded on 4 October 2006, mistakenly described the estate conveyed as “one-half fee simple interest” in the property rather than the entire undivided fee simple interest contemplated by both parties.

In February 2007, Colonial Bank made a construction loan in the amount of $14 million to Hillsborough to fund Hillsborough’s development of the property. The deed of trust securing the loan…