286 S.E.2d 17 (Ga. 1982), 37609, National Bank of Georgia v. Morris-weathers Co.

Docket Nº:37609.
Citation:286 S.E.2d 17, 248 Ga. 798
Opinion Judge:CLARKE, Justice.
Party Name:The NATIONAL BANK OF GEORGIA +v. MORRIS-WEATHERS COMPANY.
Attorney:[248 Ga. 800] Charles E. Leonard, Atlanta, for The National Bank of Georgia. [248 Ga. 801] Barbara Harris, Asst. U.S. Atty., William L. Harper, U.S. Atty., Atlanta, Alton T. Milam, Austell, Louis F. Ricciuti, Atlanta, for Morris-Weathers Co.
Case Date:January 06, 1982
Court:Supreme Court of Georgia

Page 17

286 S.E.2d 17 (Ga. 1982)

248 Ga. 798

The NATIONAL BANK OF GEORGIA

+v.

MORRIS-WEATHERS COMPANY.

No. 37609.

Supreme Court of Georgia.

January 6, 1982

Rehearing Denied Jan. 27, 1982.

[248 Ga. 800] Charles E. Leonard, Atlanta, for The National Bank of Georgia.

[248 Ga. 801] Barbara Harris, Asst. U.S. Atty., William L. Harper, U.S. Atty., Atlanta, Alton T. Milam, Austell, Louis F. Ricciuti, Atlanta, for Morris-Weathers Co.

CLARKE, Justice.

This court granted certiorari to consider the opinion of the Court of Appeals in Morris-Weathers Co. v. Decatur Federal Savings & Loan Assoc., 158 Ga.App. 177, 279 S.E.2d 482 (1981). The single issue before us is whether the Court of Appeals erred in holding that Code Ann. § 110-515 makes the date of recordation of a judgment on the general execution docket the single date and sole criterion for [248 Ga. 799] measuring priorities between competing judgment lien holders and the sole criterion for determining the effect of a judgment on the title to real property.

Appellant Morris-Weathers Company, E. M. Wilson, and the National Bank of Georgia all obtained judgments against Charles M. White in a December, 1975, term of the State Court of DeKalb County, Georgia. Morris-Weathers obtained its judgment on December 10, and the fi fa thereto was recorded on the general execution docket on December 11. Applicant for certiorari, NBG, obtained its judgment December 22 and E. M. Wilson obtained his judgment December 23. Both the NBG judgment and the Wilson judgment were entered on the GED on January 6, 1976. Charles White filed for bankruptcy in 1976.

At the time of the recordation of the three judgments in question, White was the owner of a piece of real property subject to a first lien held by Decatur Federal Savings and Loan Association. White's trustee in bankruptcy abandoned the property, and Decatur Federal foreclosed. The proceeds were sufficient to repay Decatur Federal in full. The sale generated $17,054.28 over and above Decatur Federal's interest. Decatur Federal filed an interpleader, depositing the excess into the registry of the court. NBG, Wilson and Morris-Weathers were three of the original defendants in the interpleader, competing for the excess funds. The trial court held that under Code Ann. § 110-505, they were deemed to be of equal seniority, since the three judgments were obtained during the same...

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