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RTC v. EAGLE LAKE & GOLF CONDOMINIUMS

23802

310 S.C. 473 (1993)

427 S.E.2d 646

RESOLUTION TRUST CORPORATION, as Receiver for Heritage Federal Savings and Loan Association, Appellant v. EAGLE LAKE AND GOLF CONDOMINIUMS, A South Carolina Limited Partnership, Allen W. May, Peggy W. May, Coker Builders, Inc., and Eagle Lake and Golf Condominiums Homeowners Association, Inc., Respondents v. COKER BUILDERS, INC., Third-Party Plaintiff/Respondent v. Michael B. CALLAHAN, Kathleen B. Callahan, Glenn F. Sowards, Oretha B. Sowards, Joseph A. Larkin, Marilyn Larkin, Robert Stayrock, Sandra Yatty a/k/a Sandra L. Stayrock, Thomas L. Fiato, Mark T. Fiato, Kevin F. Skellett, Russell Smith, Lucille Smith, John B. Somers, Mary Jo Somers, John B. Dalhberg, Stephanie P. Dahlberg, Peter J. Palassino, Rosemary Pallassino, Maurice Harruff, Marilyn Harruff, David Wayne Brown, Joi Michelle Brown, Patricia Williams, Jan L. Hilgert and Pilar Hilgert, Third-Party Defendants.

Supreme Court of South Carolina.

Decided February 16, 1993.

Rehearing Denied March 23, 1993.

Attorney(s) appearing for the Case

Robert E. Stepp, and Elizabeth Howard Simmons, both of Glenn, Irvin, Murphy, Gray & Stepp, Columbia, for appellant.

Dalton B. Floyd, Jr., Surfside Beach, for third-party plaintiff/respondent Coker.

Cary F. McLeod, North Myrtle Beach, and John E. Fulbright, of Connelly Springs, NC, for respondents.

John Randolph Martin, of the Law Offices of John R. Clarke, North Myrtle Beach, for third-party defendants Michael B. Callahan and Kathleen B. Callahan.

Peggy W. May and Allen W. May, pro se respondents.

Thomas H. Somers, of Moon, Moss & McGill, Portland, ME, for third-party defendants John B. Somers and Mary Jo Somers.

Heard Jan. 4, 1993.

Decided Feb. 16, 1993.

Rehearing Denied March 23, 1993.

Per Curiam:

Appellant appeals an order granting respondent Coker's summary judgment motion and holding appellant's mortgage ineffective under S.C. Code Ann. § 27-31-230(a) (1991). The sole issue before the Court is whether a mortgage, given by a condominium developer on the entire project after the master deed has been filed, is void under this statute....

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