Majors v. State

This is an appeal from an order quieting title to certain real estate, situated in Houston County, Alabama, in Payne, as Receiver of Alliance Insurance Company, a bankrupt corporation. We affirm.

December 30, 1960, F.O. Majors (founder, president, and chief executive officer of Alliance Insurance Company) and his wife, Trudie, conveyed by warranty deed, a house and lot to Alliance Insurance Company. The conveyance was subject to a mortgage on the property to H.A. Hicks. On December 31, Majors, as president of Alliance, executed a "bond for title" in favor of himself individually, and his wife.…