Progressive Building & Loan Ass'n v. McIntyre
| Decision Date | 11 January 1936 |
| Citation | 89 S.W.2d 336 |
| Parties | PROGRESSIVE BUILDING & LOAN ASS'N v. McINTYRE. |
| Court | Tennessee Supreme Court |
Appeal from Chancery Court, Shelby County; L. D. Bejach, Chancellor.
Suit by the Progressive Building & Loan Association, wherein L. L. Hidinger, its receiver, intervened, against G. S. McIntyre and others. From an adverse decree, the receiver appeals.
Affirmed and remanded.
McDonald & McDonald and H. R. Ratcliff, all of Memphis, for appellant.
R. G. Kinkle, of Memphis, for appellees.
This bill alleges that, at a foreclosure sale held on May 23, 1934, complainant became the purchaser of the real estate described in the bill; that the sale was held by the authorized trustee under a deed of trust executed by defendants H. P. Wade and wife; that such sale was held after an advertisement in a newspaper published on May 1, 8, 15, and 22. It is alleged that complainant had entered into a written agreement with defendant McIntyre under which McIntyre was to purchase the premises of complainant, but that McIntyre has declined to carry out his contract of purchase, on the ground that complainant's title is fatally defective for failure to advertise the sale under the deed of trust in accordance with its terms.
The complainant prays a construction of the duties resting upon the trustee under said deed of trust, which instrument is exhibited with the bill, prays for an adjudication of the rights of all the parties, and for general relief.
Defendant McIntyre answered, admitting the allegations of the bill and denying that complainant had, or could convey to him, a good title on the ground already stated. A pro confesso was entered against Wade and wife.
The cause was tried upon a stipulation of facts; it being agreed that the advertisement of the sale was made on the dates given and that the sale thereunder was had on May 23. Upon the facts, the chancellor held the sale void and complainant's title invalid, but ordered a foreclosure of the deed of trust. Prior to the chancellor's decree, the Progressive Building & Loan Association was placed in receivership; L. L. Hidinger being the receiver. He intervened in his own name, as receiver, and from the chancellor's decree has appealed to this court.
The deed of trust in question authorized the trustee thereunder to sell the premises "after having advertised the time, terms and place of sale once a week for four successive weeks, by publication in some newspaper published in Memphis, Tennessee."
It will be observed that the sale was had after only twenty-two days' advertisement or notice. The deed of trust under which the sale was held was prepared by and executed for the benefit of complainant; the instrument waives and conveys the equity of redemption of the makers, and it is such an instrument as must be strictly...
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Gibson v. Mortg. Elec. Registration Sys., Inc.
...Henderson v. Galloway, 27 Tenn. 692, 695–96 (Tenn.1848).21 Robilio, 2008 WL 2502114, at *7 (citing Progressive Bldg. & Loan Ass'n v. McIntyre, 169 Tenn. 491, 89 S.W.2d 336, 336 (1936) ).22 Deed of Trust, ex. 2 to Denson Decl. (D.E. # 53–2).23 Bramlage v. Wells Fargo Home Mortg., Inc., 144 F......
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Nationstar Mortg. LLC. v. Humphrey
...trust or other legal instruments.") (other citations omitted). 21. Robilio, 2008 WL 2502114, at *7 (citing Progressive Bldg. & Loan Ass'n v. McIntyre, 89 S.W.2d 336, 336 (Tenn. 1936)). 22. The Court may consider the deed of trust for purposes of Rule 12(b)(6) without converting Defendant's ......
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Citifinancial Mortgage Company, Inc. v. Beasley, No. W2006-00386-COA-R3-CV (Tenn. App. 1/11/2007)
...and originate in the deed of trust, the law demands strict compliance for the conveyance to be valid. Progressive Bldg. & Loan Ass'n v. McIntyre, 89 S.W.2d 336, 336 (Tenn. 1936). In contrast, where a foreclosing trustee proceeds according to statutory requirements, the law in Tennessee is n......
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Self Help Ventures Fund v. Robilio, No. W2009-00368-COA-R3-CV (Tenn. App. 6/1/2010)
...out in a deed of trust must be strictly complied with in order for the conveyance to be valid. Id. (citing Progressive Bldg. & Loan Ass'n v. McIntyre, 89 S.W.2d 336, 336 (Tenn. 1936)). However, a foreclosing trustee proceeding according to statutory requirements must not meet such an exacti......