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HAYNE FEDERAL CREDIT UNION v. BAILEY

No. 24678.

327 S.C. 242 (1997)

489 S.E.2d 472

HAYNE FEDERAL CREDIT UNION, Appellant, v. Lynda Hutchins BAILEY, a/k/a Lynda Hutchins Smith, Harold E. Bailey, Karen Kristen Bailey, National Welders Supply Company, Inc., United States Fidelity and Guaranty Company, and Pennsylvania National Mutual Insurance Company, Respondents.

Supreme Court of South Carolina.

Decided August 11, 1997.

Attorney(s) appearing for the Case

Charles E. Carpenter, Jr. and Deborah H. Sheffield, both of Richardson, Plowden, Carpenter & Robinson, P.A., Columbia; Jack W. Erter, Jr., of Lee, Wilson, and Erter, Sumter, for Appellant.

Linwood S. Evans, Jr., Sumter, for Respondents.

TOAL, Acting Chief Justice:

In this foreclosure action, Hayne Federal Credit Union ("Credit Union") appeals from the order of the special referee who held that Harold Bailey ("Father") owned the property in dispute by virtue of a resulting trust. We reverse and remand.

FACTUAL/PROCEDURAL BACKGROUND

Father contracted to purchase a house located on Pumpkin Lane in Sumter County. He had put down $25,000 in earnest money to make the purchase. The real...

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