Regions Bank vs. Fletcher Brothers and IRS - Court Ruling

Regions Bank's foreclosure dispute with the Fletcher brothers centered on a home-equity line of credit secured by Tennessee real property. Although the borrowers continued making payments after the original 2007 maturity date, the bank could not produce a properly documented written extension of the loan.

The court concluded that Tennessee's limitations period for enforcing the real-property lien had expired before the foreclosure action was filed. Post-maturity payments did not restart the period, and the bank's equitable-lien arguments did not overcome the statutory requirements. Summary judgment was therefore entered for Donnie and Dennis Fletcher.

Original article:https://www.whitcomblawpc.com/business-law-blog/regions-bank-vs.-fletcher-brothers-and-irs-court-ruling