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SMITH v. CREDICO INDUS. LOAN CO.

Record No. 841185.

362 S.E.2d 735 (1987)

Forest R. SMITH v. CREDICO INDUSTRIAL LOAN COMPANY, et al.

Supreme Court of Virginia.

November 25, 1987.

Attorney(s) appearing for the Case

John S. Edwards (Martin, Hopkins, Lemon and Carter, P.C., Roanoke, on briefs), for appellant.

Michael A. Glasser (Christopher A. Corbett, Glasser and Glasser, Tompkins, Turner & Corbett, Norfolk, on brief), for appellees.

Present: All the Justices.

THOMAS, Justice.

In this appeal we decide whether a substitute co-trustee under a deed of trust, who does not act as trustee at a foreclosure sale, can bid on the subject property on behalf of another.

Forest R. Smith was delinquent in payments on a note held by Credico Industrial Loan Company (Credico) and secured by a deed of trust. On February 7, 1983, John R. Patterson and Hilda E. Morin were substituted as trustees under the deed of trust. The substitution...

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