Carrington v. Citizens' Bank of Waynesboro

• Court: Georgia Supreme Court
• Writing for the Court: EVANS, P.J.
• Citation: Carrington v. Citizens' Bank of Waynesboro, 144 Ga. 52, 85 S.E. 1027 (Ga. 1915)
• Decision Date: 14 August 1915
• Docket Number: 537.
• Parties: CARRINGTON v. CITIZENS' BANK OF WAYNESBORO.

85 S.E. 1027

144 Ga. 52

CARRINGTON v. CITIZENS' BANK OF WAYNESBORO.

No. 537.

Supreme Court of Georgia

August 14, 1915

Syllabus by the Court.

Where land was sold at public sale to be paid for in cash, under a power of attorney in a security deed, and the highest bidder failed to comply with his bid, and the donee of the power gave him written notice of his intention to resell the property on the same day unless he complied with his bid such bidder was liable for the difference between his bid and the amount the property brought at the second sale, although the notice of resale did not expressly state that the second sale would be at his risk. Gay v. Parrish, 138 Ga 399, 75 S.E. 323.

After the property had been sold at the second sale and purchased by the grantee in the security deed, under permission contained in the deed to become a purchaser at the sale, the bidder at the first sale had no right, on tender of his bid several days thereafter, to demand its acceptance and a conveyance of the land to him by the purchaser at the second sale, who was the grantee in the security deed.

A sale under power in a security deed divests the title of the grantor, and he has no legal right several days thereafter on tender of the amount of the debt secured by the deed to the grantee; who is purchaser at the sale, to demand a conveyance of the land or a cancellation of the security deed.

Where a sale of land is made under a power contained in a security deed, and by permission of the grantor contained in the deed the grantee purchases the land at such sale, the grantor cannot defeat the purchaser's right to have the sale fully consummated, by tender of the amount of his...