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SECURITY BANK AND TRUST CO. v. BEAUFORT

No. 86-50 Appeal.

540 A.2d 13 (1988)

SECURITY BANK AND TRUST COMPANY v. Raymond BEAUFORT et al.

Supreme Court of Rhode Island.

April 13, 1988.

Attorney(s) appearing for the Case

Richard M. Peirce, Roberts, Carroll, Feldstein & Tucker, Providence, for plaintiff.

Daniel K. Flaherty, Warwick, Thomas A. Lynch, William F. Hague, Dick & Hague, Ltd., Stephen A. Gordon, Gordon & Levitt, Providence, for defendants.

OPINION

FAY, Chief Justice.

This action arose from a construction-loan agreement between the mortgagors, Raymond and Louise Beaufort (the Beauforts), and the mortgagee, Security Bank and Trust Company (Security or bank). This appeal comes to us from a Superior Court interpleader judgment that distributed the foreclosure surplus on the property securing the construction loan. We affirm.

Security filed this interpleader action in Superior Court against...

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