First South Sav. Bank, Inc. v. Gold Coast Associates, 1469
| Citation | 390 S.E.2d 486,301 S.C. 158 |
| Decision Date | 12 December 1989 |
| Docket Number | No. 1469,1469 |
| Parties | FIRST SOUTH SAVINGS BANK, INC., Respondent, v. GOLD COAST ASSOCIATES, A South Carolina General Partnership, Robert H. Howorka, Allison Howorka, Daniel R. Denton, Catherine M. Denton, Marsh Harbor Owner's Association, Ferguson Enterprises, Inc. and Palmetto Federal Savings Bank, Defendants, of whom Robert H. Howorka, Daniel R. Denton, Allison Howorka and Catherine M. Denton are Appellants. Appeal of Robert H. HOWORKA, Daniel R. Denton, Allison Howorka, Catherine M. Denton. . Heard |
| Court | Court of Appeals of South Carolina |
Daniel R. Denton, Beaufort, for appellants.
Steven M. Anastasion, Columbia, for respondent.
Respondent, First South Savings Bank, Inc., foreclosed a mortgage held on property owned by Gold Coast Associates, a general partnership of which appellants, Robert H. Howorka, Daniel R. Denton, Allison Howorka and Catherine Denton were partners. The master ordered the property sold at public auction, but kept the bidding open since a deficiency judgment was sought. The partners petitioned for an appraisal and First South moved to quash the petition as untimely. The trial court granted the motion to quash and the partners appeal. We affirm.
On March 21, 1985, Gold Coast Associates executed a note to First South in the sum of $1,250,000.00. The partners signed as guarantors on the note and certain property was mortgaged to secure payment. On June 21, 1987, First South instituted foreclosure proceedings and requested a deficiency judgment. A hearing was held on December 29, 1987, and on February 2, 1988, the master issued his order finding the partners liable on the debt and ordered the property sold at public auction. The master further ordered the bidding to remain open for thirty days after the date of sale, as a deficiency judgment was demanded. Notice of sale was served on the partners on March 31, 1988 stating the master would offer the property to the highest bidder on April 4, 1988. A public auction was held on April 4, 1988 at which time First South entered the highest bid in the amount of $760,000.00. No upset bid was offered within the statutory thirty day period which ended May 4, 1988, and on June 6, 1988, the master issued his report on sale and disbursements calculating a total deficiency of $52,016.27.
On June 30, 1988, the partners filed and served a petition for order of appraisal which is more than thirty days after the bids were in. On July 19, 1988, First South filed and served a motion to quash the partners' petition for order of appraisal. On August 11, 1988, a hearing was held on First South's motion to quash. An order confirming the master's report on sale and disbursements was signed by the master on September 13, 1988 and filed on September 27, 1988. On September 30, 1988, the circuit court issued an order quashing the partners' petition for order of appraisal for failure to make timely application.
The issue before us on appeal is when the time begins to run for filing a petition for order of appraisal pursuant to S.C.Code Ann. § 29-3-680 (Supp.1988). That section provides as follows:
In any real estate foreclosure proceeding a defendant against whom a personal judgment be taken or asked, whether he has theretofore appeared in the action or not, may within thirty days after the sale of the mortgaged property apply by verified petition to the clerk of court in which the decree or order of sale was taken for an order of appraisal. (emphasis added).
The partners contend the date of sale...
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