PUTNAM v. FERGUSON

No. COA97-1235.

502 S.E.2d 386 (1998)

Mildred PUTNAM, Plaintiff, v. Greg FERGUSON, Trustee, J.R. Dillard, Trustee, Leslie D. Ferguson, and wife, Marilyn M. Ferguson, TranSouth Financial Corporation, a South Carolina corporation, TranSouth Mortgage Corporation, a South Carolina corporation, Susan C. Lewis, Trustee, Deborah B. Briggs, personally and as Administratrix of the Estate of Franklin Allen Briggs, Jr., and Jaclyn Briggs, a minor child, Defendants.

Court of Appeals of North Carolina.

July 7, 1998.


Attorney(s) appearing for the Case

Killian, Kersten & Patton, PA by Roy H. Patton, Jr., Waynesville, for plaintiff-appellee.

Leonard & Biggers by William T. Biggers, Asheville, for defendant-appellants.


EAGLES, Chief Judge.

We first consider whether the trial court erred in refusing to grant defendants' motion to dismiss and in granting plaintiff's motion for summary judgment. The defendants argue that the trial court erred in finding that the promissory note held by plaintiff was secured by a deed of trust which constituted a valid first lien against the property. Defendants argue that "`[a] mortgage which purports to secure the payment of a debt has no validity...

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