Sparger v. . Wolfe

152 S.E. 775, 198 N.C. 602, 1930 N.C. LEXIS 423

• Court: Supreme Court of North Carolina
• Decided: April 16, 1930
• Status: Published

Opinion

Pee Cueiam.

The judgment dissolving the temporary restraining order is affirmed.

The release executed by the payee of the note secured by the deed of trust to the defendant, Henry Wolfe, trustee, after the said payee had transferred and assigned the said note, for value, to the defendant, J. H. Fulton, the present holder of the note, has no effect, in law or in equity, upon the title of the trustee to the land conveyed to him by the deed of trust. The defendant, Henry Wolfe, trastee, holds the legal title to the land conveyed to him by the deed of trust as security for the payment of the note described in said deed of trust. As the release is without effect upon the title of the trustee to the land conveyed to him by the deed of trust, the said deed of trust retains its priority over the deed of trust to the plaintiff, M. H. Sparger, trustee, resulting from its prior registration.

Upon the facts admitted in the pleadings, plaintiffs are not entitled to the relief sought by this action. There is no error in the judgment dissolving the temporary restraining order.

Affirmed.