HomeMy WebLinkAbout0281Defendant counterclaimed in Cases Numbers 76-1229 and
77-100 by way of a third party comnlaint against Brownlee and
Associates, Inc. and Jerome F.. Arownlee for four counts. Count I
is an action for fraud and foreclosure of a vendor's lien. Count
~I is misrepresentation. Count I7I is breach of a~reement. Cotint
IV is for repayment and breach of agreement for renairs of eqtii~-
ment. The comulaints and the counterclaims in Cas~ No. 76-1229 and
Case No. 77-100 appear to be essentially the same actions, involvin~
the same transactions.
In regard to the Brownlee and Associates, Inc, action on
slander of title based on the vendor's lien, the Court finds that
the Defendant, BoWen Brothers, Inc. , would have been entitled to claim a
vendor's 2ien in the amount of 5127,~29.29. This is evident bv the
agreement signed by the parties on October 24, 1975. (P-1, Item 11).
Defendant Bowen Arothers, Inc. ori~inall~ held a mort~age from River
Citrus, Inc. on this property prior to the sale from River Citrus,
Inc. to Brownlee and Associates, Inc. (P-1, Item 1). Subsequentlv,
through a series of compl:cated transactions, this mortgage was
assigned to a bank and reassigned to Aowen Brothers, Inc. The
mortgage was then satisfied in order that a new first mort~a~e he
acquired from Brownlee and Associates, Inc, to First National Aank
of Fort Pierce. The proceeds of the loan from First National Bank
of Fort Pierce were then used to pay off a previous first mort~age
to another bank. Essentially, the parties agreed to substitute the
ind~btedness and mortgage that Bowen Brothers, Iac. held from River
Citrus, Inc. for the agreement dated October 24, 1975. As a result ~
of these transactions River Citrus Inc. sold this '
~ , prooerty to ~
Brownlee at~d Associates, Inc., transferring a portion of the debt
of River Citrus; Inc. to Bowen Brothers, Inc. to Brownlee and
Associates, Inc. as a part of the purchase money. .
" It has been held that where, as a part of the
transactian, one having a prior lien ~n the land
surrenders his lien, althou~h he does not join in
the conveyance as a granter, and accepts thP notes
of the grantee for the amount of his claim, he is
virtually and to all practical purposes as much a
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