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  5. 454 S.E.2d 901 (1995)
 

FRIARSGATE INC. v. FIRST FED. SAV. & LOAN

No. 2287.

454 S.E.2d 901 (1995)

FRIARSGATE, INCORPORATED and Whitehall Developers, Inc., Appellants, v. FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF SOUTH CAROLINA, American Federal Bank, FSB, and James E. Knight, Jr., of whom First Federal Savings and Loan Association of South Carolina and American Federal Bank, FSB, are Respondents.

Court of Appeals of South Carolina.

Decided January 9, 1995.

Rehearing Denied March 16, 1995.

Attorney(s) appearing for the Case

Charles F. Cooper, II of Cooper, Coffas & Megna, Columbia, for appellants.

Deborah R.J. Shupe, Leonard R. Jordan, Jr., and Louis H. Lang and Suzanne A. Hawkins, Columbia, for respondents.

SHAW, Judge:

Friarsgate, Incorporated and Whitehall Developers, Inc. (the sellers) appeal from an order of the master in equity declaring that mortgage liens held by First Federal Savings and Loan Association of South Carolina and American Federal Bank, FSB (the lenders) were entitled to first priority over mortgage liens held by the sellers in property the sellers sold to J.C. Roy Company, Inc. (Roy), a real estate developer. We reverse.

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