THI RD DI VI SI ON

DOYLE, P. J.

, GOBEI L, J.

, and SENI OR JUDGE FULLER

N O T IC E : M otions for r e c ons i de r a tion m us t be

p h y sic a l ly r e ce iv ed i n our c le r k ’s offic e w ithin te n

da y s of the da te of de c is ion to be de e m ed tim e ly file d.

https ://w w w

. ga a ppe a ls .us /r ule s

Nov em ber 16, 2023



# I n th e Co u r t o f

A p p eals o f

G eo r g ia

A2 3 A1 27 9

. HEAD et al

. v

. PLANET HOM E LENDING, LLC et al

.

F U LLE R , Sen i o r J u d g e.

In t h i s act io n t o can cel a secu ri t y d eed an d fo r d ecl arat o ry an d i n ju n ct i v e rel i ef,

p l ai n t i ffs Ch arl es an d Li s a Head ap p eal fro m t h e g r a n t o f s u m m ary ju d g m en t to

d efen d an t s Pl an et H o m e Len di n g

, LLC (“ PHL”) an d BCM B1 Tru st

. T h e Head s

co n ten d th at t h e d efen d an t s were n ot en t i t l ed t o s u m m ary ju dg m en t b ecau s e t i t l e

u n d er t h e s ecu ri t y deed h as rev ert ed t o t h e Head s an d

, al t ern at i v el y

, t h at an y cl ai m s

t h e d efen d an ts m ay h av e u n d er t h e d e e d a r e b a rred b y l ach es

. Fo r t he reas o n s t h at

fo l l o w , we d i s ag ree an d affi rm

.

“ W e rev i ew d e n o v o a g ran t o r d en i al o f s um m ary ju d g m en t

, vi ewi n g t h e

ev i d en ce an d al l reas o n ab l e co n cl u si o ns an d i n f e r e n c e s d r awn fro m i t i n t h e l i g ht

m o st fav o rab l e t o t he n o n m o v an t .” Hen r y v. Gr i f fi n Ch r ys l er Do d g e Jeep Ra m

, 3 6 2Ga. Ap p

. 4 5 9

, 4 6 0 (8 68 SE2 d 8 2 7 ) (2 0 2 2 ). So v i ewed

, t h e reco rd s ho ws t hat

, i n 2 0 0 7,

t h e Head s o b tai n ed a seco n d m o rt gag e an d ex e c u t ed a rel at ed p ro m i s s o ry n o t e (t h e

“ No t e”) i n t h e am ou n t of $ 6 5 ,0 0 0 i n fav o r o f Co un t ry wi d e Ban k

, N.A. At t h at t i m e,

Co u n t ry wi d e al s o h el d t he p ri m ary m o rt g ag e o n th e Head s ’ p ro p ert y

. Th at sam e d ay

,

t h e Head s ex ecu ted a s ecu ri t y d eed (t h e “ Secu ri t y D eed ”) co n v ey i n g t h e real p ro p ert y

s ecu ri n g t h e s eco n d m o rt g ag e l o an t o M o rt g ag e El ect ro n i c Reg is t rat i o n Sy s t em s

, In c.

(“ M ERS”), as Co u n t ry wi d e’ s n o m i n ee. Th e Secu ri t y Deed i de ntif ie s t he m a tu ri t y d at e

fo r t h e u n d erl y in g d eb t as March 1

, 2 0 2 2. In J u n e 2 0 1 9, M E RS as s i g n ed t he Secu ri t y

Deed t o d efen d an t BCM B1 . PHL i s BCM B1 ’ s s erv i cer fo r t h e d eb t

.

Th e H ead s fel l b eh i n d o n b o t h m o rt g ag e p ay m en t s i n 2 0 09 an d recei v ed l et t ers

o f accel erat i o n as t o b o t h l o a n s i n 2 0 1 1

. As a res u lt

, t h ey i n i t i at ed b an k ru p t cy

p ro ceed in g s i n May 2 0 1 1

. Th e b an k ru p t cy act i o n was d is m i s s ed l at er th at y ear aft er

t h e len der refi n a n c e d t h e p ri m ary m o rt g ag e. At th at t i m e, th e Head s were u n aware

t h at t h e s eco n d m o rt g ag e (wh i ch i s at i s su e i n t h i s act i o n ) was n o t refi n an ced an d t h at

t h ei r i n d eb t ed n es s un d er t h e No t e t h u s rem ai n ed ou t st an d i n g

. It ap p ears t h at n ei t h er

p art y t o o k an y act i o n wi t h res p ect t o t h e No t e fo r s ev eral y ears t h ereaft er.

In Ap ri l 2 02 0 (ap p ro xi m at el y t en m o n t h s aft er BCM B1 o b t ai n ed t h e Secu ri t y

d eed ), co u ns el fo r PHL m ai l e d t o t h e Head s n o ti ce t hat t h ey h ad defau l t ed o n t h e

2No t e, u n der w h i ch t h ey o wed $ 11 4 ,4 99 .9 2

, an d t h at a fo recl o s u re s al e wo u l d b e h el d.

Lat er t h at m o n th

, t h e H ead s s u ed PHL an d BCM B1

, s eek i n g : (i ) a decl arat i o n t h at t h e

ex p irat i o n o f t h e s t at u t e o f l i m i t at i o n b ars en fo rcem en t of th e d eb t ev i d en ced b y t h e

No t e; (i i ) a d ecl arat io n t h at t h ey are th e t ru e o wn er s o f t h e p ro p ert y

, s u b ject to

s at i s fact i o n o n l y o f t h ei r p ri m ary m o rt g ag e; (i i i ) a t em p o rary i n ju n ct i o n b arri n g t h e

fo recl o s ure an d s al e o f t he p ro p ert y ; (i v ) can cel l at i o n o f t h e Secu ri t y D eed ; an d (v ) a

d ecl arat io n t h at th e d efen d an ts ’ at t em p ts to en fo rce t h e d eb t an d fo recl os e are b arred

b y l ach es

. In M ay 2 0 2 0

, t he t ri a l c ou rt t em p o rari l y en

jo i n ed t h e fo recl o s u re

p ro ceed in g s p en d i n g res o lu t i o n o f t h i s act i o n.

Fo l l owi n g d i sco v ery

, t h e d efen dan t s m o ved fo r s u m m ary ju d g m en t

. Th e t ri al

co u rt g ran t ed t he m o ti o n o n g ro u n d s t h at : (i ) s t at u t es o f l i m i t at i o n pl ay n o p art i n t h e

en fo rceab i li t y o f s ecu ri t y d eed s

, wh i ch i n s t ead are g ov ern ed by t h e rev ers i o n ary

p eri o d s in O CGA § 4 4-1 4 -8 0 ; (i i ) h ere

, t h e Secu ri t y Deed i s v al i d an d en fo rceab l e

b ecau s e, u n d er t h at st at ut e, t i t l e wi l l n o t rev e r t t o th e Head s un t i l M arch 1

, 2 0 2 9,

s ev en y ears aft er t h e m at u ri t y d at e s h o wn i n th e d eed ; (i i i ) an y p ot en t i al accel erat i o n

o f t h e u n d e r l yi n g d eb t d i d n o t accel erat e t h e ru n n i n g of t h e rev ers i o n ary p eri o d fo r

3t h e Secu ri t y Deed ; an d (i v ) th e d o c t r i n e o f l ach es d o es n o t b ar fo recl o s u re i n t h i s

cas e. 1 Th i s ap p eal fo l l o w ed

.

S u m m a r y ju d g m en t i s p ro p er w h en t h ere is n o g en u i n e i s s u e o f

m at eri al fact an d t h e m o van t i s en t i t l ed to ju dg m en t as a m at t er o f l aw.

Th e b u rd en on t he m o v in g p art y m ay b e d i sch arg ed by p o i n t i n g ou t b y

referen ce t o t h e affi d av i t s

, d ep o s i t i o n s an d o t h er d o cu m en t s i n th e

reco rd t h at t h ere i s an ab s en ce o f ev i d en ce t o s u p p o rt t h e n o n m o v i n g

p art y ’ s cas e. If t h e m o v an t m eet s t h i s b u rd en

, t h e n o n m ov an t can n o t res t

o n h i s p l ead i n g s , b u t rat her m u s t p o i n t t o s peci fi c ev id en ce g i v i n g ri s e

t o a t ri ab l e i ss ue.

Hen ry

, 3 6 2 Ga. Ap p

. at 4 6 0 -4 6 1 (ci t at i o n s an d p u n ct u at io n o m i t t ed ); s ee OCGA

§ 9 -1 1-5 6 (c), (e).

1

. Th e Head s p ri m ari l y co n t en d t h at t h e tri al co u rt erred wh en i t d et erm i n e d

t h a t t h e Secu ri t y D eed i s n ot s u b ject t o a s t at ut e of l i m i t at i o n an d i n s t ead i s s u b ject

o n l y t o t h e rev ers i o n ary

s t at u t e. W e d i s ag ree.

Th e rev ers i o n ary

s t at ut e p ro v id es , i n rel ev an t p art :

Ti t l e t o real p ro pert y

co nv ey ed t o s ecu re a deb t o r d eb t s s h al l rev ert t o

t h e g ran t o r o r h i s o r her h ei rs

, p ers o n al rep res en t at i v es

, su cces s o rs

, an d

as s i g n s at t he ex p i rat i o n o f s ev en y ears fro m t h e m at u ri t y o f th e d eb t o r

1 T h e t ri al co u rt d i d no t ad d res s t h e e n f o rceab i li t y o f t h e No t e, an i s s u e o n

wh i ch we ex p res s n o o p in i o n

.

4d eb t s o r t h e m at u ri t y o f t h e l as t i n s tal l m en t t h ereo f as st at ed o r fi x ed i n

t h e reco rd o f t h e co n v ey an ce o r, i f n o t reco rd ed

, i n t h e co n v ey an ce

. . . .

OCGA § 4 4 -1 4 -8 0 (a) (1 ). Th e s t at u t e o f l i m i t at i o n o n wh i ch t h e Head s s eek t o rel y

p ert i nen t l y p ro v id es : “ Al l act i on s u p o n s im p l e co n t ract s i n wri ti n g s hal l b e b ro u g ht

wi t h i n s i x y ears aft er t h e s am e b eco m e d u e an d p ay ab l e.” OCGA § 9 -3 -2 4

.

Un d er t h es e s t at u t o ry p ro v i s i o n s

, t he en fo rceab i l i t y o f a s ecu ri ty d eed o p erat es

i n d ep en den t l y o f th e en fo rceab i l i t y o f i ts u nd erl y i n g pro m i s s o ry n o t e, an d a s ecu ri t y

d eed th u s m ay b e en fo rced ev en t h o u gh t h e l en d er can n o t co l l ect o n t h e u n d erl y i n g

d eb t becau s e th e s t at u t e of l i m i t at i o n o n t h e n o t e h as ex p i red

. See Mi n t on v. R a yt h eo n

Co

. , 2 2 2 Ga. Ap p

. 85

, 8 6 -8 7 ( 4 7 3 SE2 d 17 7 ) (1 9 9 6 ); acco rd Br i n s o n v. McMi l l a n

,

2 6 3 Ga. 8 0 2

, 8 0 3 (2 ) (4 4 0 SE2 d 2 2 ) (1 9 9 4 ). Th at i s b ecau s e “ th e rev ers i o nary s t at u t e

h as a d i fferen t fu n ct i on t han

, an d i s u n affect ed b y

, s t at u tes of li m i tat i o n

. ” W h i t e

Pr o per t ies In ves t m en t

s v. DIP Len d i n g I

, 3 6 6 Ga. Ap p

. 2 4 2, 2 4 4 (1 ) (8 8 1 SE2 d 7 0 6 )

(2 0 2 2).

A s t at u t e o f l i m i t at i o n

. . . i s a ru l e l i m it i ng t h e t i m e i n w h i c h a p art y

m ay b ri n g an act i o n fo r a ri g ht wh i ch h as al read y accru ed

. OC GA

§ 4 4 -1 4-8 0 (a) i s n o t a s t at u t e o f l im i t at io n

. Rat h er, it es t ab l i s h es a t i m e

p eri o d aft er wh i ch t i t l e t o real p ro p ert y co n v ey ed b y a s ecu ri ty deed t hat

h as n o t b een can cel l ed or fo recl o s ed u p o n rev ert s t o th e g ran t o r as a

m at t er o f l aw.

5Id

. at 2 4 6 (1 ) (ci t at i o n s an d p u n ct u at i on om i t t ed ); acco rd Gr i g g s v. Mi ll er

, 3 6 3 Ga.

Ap p

. 8 2, 8 8 (3 ) (8 7 0 SE2 d 5 7 8 ) (2 0 2 2 ). Th at d i s t i n ct io n fo l l o ws n at u ral ly fro m t h e

Gen eral As s em

b l y ’ s d eci s i on t o es t ab l i s h “ a n o n -ju d ici al fo recl os u re p ro ces s ” an d

t h ereb y “ al l o w s ecu red c r e d i t o rs t o fo recl o s e wi t h o u t ev er g o in g t o co u rt .” Ames v.

JP Mo r g an Ch a s e Ba nk

, 2 9 8 Ga. 7 3 2

, 7 4 0 (3 ) (d ), n

. 6 (7 8 3 SE2 d 6 1 4 ) (2 0 1 6 ); s ee

Pa t el v. J. P. Mo r

ga n Ch a s e Ba n k

, 3 2 7 Ga. Ap p

. 3 2 1

, 3 2 4 (1 ) (7 5 7 SE2 d 4 6 0) (2 0 1 4 )

(“ a p o wer of s al e i n a m o rt g ag e o r s ecu ri ty d eed ” i s “ a rem ed y

b y co n t ract i n t en d ed

t o s u b s t i t u t e t h e rem ed y

b y l aw”) (ci t at io n an d p u n ct u at i o n o m i t t ed ).

Th u s

, “ a s ecu ri t y d eed st an d s al o n e so l o n g as t h e u n d erl y i n g d eb t rem ai n s

, an d

[t he d eed h o l d er] i s n o t o bl ig at ed t o s at i s fy i t u n ti l t he d eb t i s p ai d reg ard l es s o f t h e

n o t e’ s en fo rceab i li t y .” D eca t u r Fed

. S & L As s n

. v. Gi b s on

, 2 6 8 Ga. 36 2

, 3 6 4 (2 ) (4 8 9

SE2 d 8 2 0 ) (1 9 9 7). So ev en i f “ an act i o n t o co ll ect t h e d eb t i s b arred b y t h e s t at u t e o f

l i m i tat i on

, s u ch wo u ld n ot p rev en t [t h e h o l der o f a s ecu ri ty d eed ] fro m ex erci s i n g [i t s ]

ri gh t s u n d er t h e s ecu ri t y

d eed

. ” Br i n s o n , 2 6 3 Ga. at 8 03 (2 ).

Here, t h e d efen d an t s ’ ab il i t y t o fo recl o s e dep en d s o n l y o n th e en fo rceab i l i t y o f

t h e Secu ri ty D eed

, n o t t h e i r a b il i t y t o co ll ect on t h e u n d erl y i n g d eb t (wh i ch

u n d i s p u t ed l y rem ai n s u n s at i s fi ed ). An d reg ard l es s of w h et h er t h e s t at u t e o f l i m i t at i o n

b ars en fo rcem en t o f th e No t e, t h e en fo rcea b i l i t y o f t h e Secu ri t y Deed i s un affect ed

6b y t h e s t at u t e o f li m it at i o n fo r t h e u n d erl y i n g d eb t

. See Deca tu r Fed

. S & L As s n

. , 2 6 8

G a

. a t 3 6 4 (2 ); Br i n s o n

, 2 6 3 G a. at 8 0 3 (2 ); W h i t e Pr o p er t i es In ves t m en t

s

, 3 6 6 Ga

.

Ap p . at 2 4 4 (1 ); Mi n t o n

, 2 2 2 Ga. Ap p . at 8 6 -8 7.

Th e Head s ’ cl ai m t h at accel erat i o n of t h e u n d erl y in g d eb t al s o accel erat es t h e

ex p ir a t i o n o f t h e rev ers io n ary p eri o d co n t rav en es t h e p lai n l an gu ag e o f t h e

rev ers i on ary s t at u t e. U nd er t h e s t at u t e, t it l e rev ert s “ s ev en y ears fro m th e m at u ri t y o f

t h e d eb t o r d eb ts o r t h e m at u ri t y o f t h e l as t i n s t al l m en t t hereo f as st at ed o r f i xed i n t h e

r eco r d o f t h e co n veya n ce .” 2 O CGA § 4 4 -1 4 -8 0 (a) (1 ) (em p has i s su p pl i ed ). If t h e

Gen eral As s em

b l y h ad in t en d ed fo r t h e ex p i rat i o n o f t h e s t at u to ry rev ers i on ary p eri o d

t o b e ac c e l e r at ed by t h e accel erat i o n o f t he u nd erl y i n g d eb t

— o r o th erwi se al t ered

b y ev en t s o u t s i d e o f th e “ reco rd o f co n v ey an ce”

— i t co u l d h a v e s ai d s o

. See Dea l

v. Co l ema n

, 2 9 4 Ga. 1 70

, 1 7 2 (1 ) (a) (7 51 SE2 d 3 37 ) (2 01 3 ) (wh en co n s i d eri n g t h e

m ean i n g o f

a s t at u t e, a co u rt m

u s t “ p res u m e t h at t he Gen eral As s em b ly m ean t wh at

i t s ai d an d s ai d wh at i t m ean t ” an d affo rd t h e s t at u t o ry t ex t i t s “ p l ai n a n d o rd i n ary

m ean i n g ”) (ci t at io n s an d p u n ct u at i o n o m i t t ed ).

2 It i s u n d is p u t ed t h at t h e Secu ri ty D e e d w as p ro p erl y reco rd ed i n t h e co u n t y

real es t at e reco rd s.

7Nev ert h el es s

, t h e H ead s co n t en d t h at “ [i ] t i s wel l -s et t l ed l aw t h at accel erat i o n

ap p li es t o [t h e] u n d erl y in g d eb t as a wh o l e, an d t h us ap p l ies t o th e s ecu ri t y d eed [ an d ]

u n d erl y i n g n o t e[ ] an d i n i t i a t e s t h e ru n n i n g o f t he s t at u t e o f l i m i t at i o ns an d t h e

rev ers i on ary s t at u t e.” Bu t t h e au t h o ri t y t h ey ci t e i n s u p p o rt o f th at cl ai m d o e s n ot

reach s o far. In Ki n g v. Ed el

, 6 9 G a

. A p p

. 6 0 7 (2 6 SE2 d 3 6 5 ) (1 94 3 ), o n wh i ch t h e

Head s rel y

, t h i s Co u rt o b s erv ed t h at a p ro m is s o ry n o t e an d d eed ex ecu ted t o s ecu re

p ay m en t o f t h e n ot e “ t o g et h er co n s t i t u t ed o n e co n tract .” Id

. at 6 1 3 (ci tat i o n an d

p u n ct u a t i o n o m i t t ed ). Ki n g

, h owev er, i n v o l v ed an act i o n o n a p ro m i s so ry n o t e, in

wh i ch th e qu es t io n p res en t ed was wh et h er t h e cl ai m was b arred b y t he st at u t e o f

l i m i tat i on ap p l i cab l e t o s i m p l e co n t ract s

. Id

. at 6 0 7. W e h el d t h at t h e act i o n was n ot

t i m e-b arred

, rel y i ng in p art on rep res en t at i o n s i n t he secu ri t y d eed as t o t h e m at u ri t y

d at e o f t h e u n d erl y i ng d eb t

. See i d

. at 61 1 -6 13

. No w h ere in Ki n g d i d we s ug g es t t h at

t h e a c c e l erat io n o f an un d erl y i n g d eb t h as an y effect o n t h e s t at u t o ry rev ers i o n ary

p eri o d ap p l i cab l e t o s ecu ri t y d eed s

. 3 See g en eral l y

i d

.

3 Ki n g pres u m ab l y d i d n ot ad d res s t h e rev ers i o n ary s t at ut e b ecau se t h e d eed to

s ecu re d eb t at i s s u e i n t h at d eci s i o n was ex ecu t ed i n 1 9 2 8

, s ev eral y ears b efo re t h e

rev ers i on ary s t at u t e was en act ed i n 1 94 1

. S e e G a

. L

. 1 9 4 1, pp

. 4 8 7 -4 8 9, § § 1

, 1 0;

Ki n g

, 6 9 Ga. Ap p . at 6 0 9

.

8Th e Head s s i m i l arl y m ai n t ai n t h at

, un d er Geo rg i a l aw, “ w hen a l en d er

accel erat es an i n d eb t ed n es s

, s u ch accel erat i o n ap p l ies t o b ot h t h e secu ri t y deed an d

t h e u n derl y i n g n o te.” Bu t ag ai n

, n ei t h er o f t h e t wo d eci s i o n s o n wh i ch t h ey rel y fo r

t h at as s ert i on

— Ma

yo v. B a n k o

f Ca rr o l l Co u nt

y

, 1 5 7 Ga. Ap p. 1 4 8 (2 7 6 SE2 d 6 6 0 )

(1 9 8 1), an d W

a r d v. W a tki n s

, 2 1 9 Ga. 6 2 9 (1 3 5 SE2 d 4 2 1 ) (1 96 4 )

— s u p p o rt s i t

. In

Ma yo

— an act i o n fo r wro n g fu l accel erat i o n o f a p ro m i s s o ry n o te an d at t em p t ed

f o r e cl o s u re of a s ecu ri t y d eed an d o t h er cl ai m s

— we m ad e t h e un rem ark a b l e

o b s erv at i o n t h at

, “ i f t he accel erat i on o f t h e d eb t was p ro p er fo r w h at ev er reas o n

. . . ,

t h en t he s ecu ri t y deed g ran t s d efen d an t t h e po wer t o s el l t h e s ecu red pro p ert y .” 1 5 7

Ga. Ap p

. at 1 48

, 1 5 0 (3 ). Bu t n o t h i n g i n Ma yo su g g es t s t h at t he au t h ori t y t o fo recl o s e

d u e t o accel erat i o n o f t h e d eb t h as an y effect o n t h e s t at u t ory rev ers i o nary p eri o d

. See

g en eral l y i d

. An d i n W

ar d

— an eject m en t act i o n

— a s al e o f t h e co l l at eral p ro p ert y

“ o ccu rred aft er d efau l t an d accel erat i o n o f t he en t i re i nd eb t ed n es s b y t h e h ol d er o f t h e

d eed an d n o t e.” 2 19 Ga. at 6 2 9

. Bu t o n ce ag ai n

, n o t h i n g i n t h at d eci s io n m ay b e read

t o s u g g es t t h at “ accel erat i o n o f th e en t i re i nd eb t ed n es s ” h as an y effect o n t h e

s t at u to ry rev ers io nary p eri o d . See g en eral l y i d

.

Th e Head s al s o ci t e W

a ll v. C & S Ba n k o

f Ho u s t o n Co u n t

y

, 2 4 7 G a. 2 1 6 (2 7 4

SE2 d 4 8 6 ) (1 9 8 1 ), fo r t h e pro po s i t i o n t h at

, “ [w] h en a l en d er el ect s accel erat i o n ,” b o th

9“ t h e s t at u t e o f l i m i t at io n s an d t h e rev ers io n ary p eri od b eg i n [ ] to ru n u p o n s u c h

accel erat i o n.” Bu t t h e deci si o n i n W al l

— an act i o n t o reco v er o n a p ro m i s s o ry n o t e

— s ay s n o s u ch t h i n g. See g en eral l y i d . Rat h er, t h e Co u rt i n W a l l m erel y h el d t h at

t h e n o te g i v es t h e [l en d er-] b an k an el ect i o n t o accel erat e m at u ri t y o f th e

d eb t ;

. . . i f m at uri t y was i n fact accel erat ed

, t h e s t at u t e o f l i m i t at i o n s

b eg an to ru n fro m t h e t i m e o f t h e el ect io n t o accel erat e rat h er t han o n th e

d at e t h e l as t i n st al l m en t was d u e; an d . . . t h e q ues t i o n fo r th e ju ry was

o n e o f wh et h er o r n o t t h e b an k h ad accel erat ed m at u ri t y

.

Id

. at 21 6 -2 17 (1 ). No t h i n g i n t h a t h o l d i ng h as an y beari ng o n t h e effect o f

accel erat i o n o n th e rev ers i o n ary s t at u t e.

T he Head s fu rt h er co n t en d t h at t he i ncl u s io n o f an accel erat i on cl a u s e i n t h e

Sec u ri t y Deed h ere s h o ws t h at accel erat i o n ap p l i ed t o t h e rev ers i o n ary p eri o d

. Bu t

t h ey read t o o m

u ch i n t o t h at cl au s e, wh ich p ro v i d es :

1 7

. Accel erat i on ; Rem ed i es

. Ex cep t as p ro vi d ed i n p arag rap h 1 6 h ereo f

[ad d res s i n g t ran s fer of th e p ro p ert y ]

, u p o n Bo rro wer’ s b r e a ch o f an y

co v e na n t o r ag reem en t o f Bo rro wer i n t h i s d eed

, in cl u d i n g th e co v en an t s

t o p ay wh e n d u e an y su m s s ecu red b y t h i s Deed

, Len d er pri o r t o

accel erat i o n sh al l g i v e n o t i ce t o Bo rro wer as p ro v i d ed [el s ewh ere in th e

d eed ] s p eci fy i ng : (1 ) t h e b reach ; (2 ) t h e act i o n req u ir e d t o cu re s u ch

b reach ; (3 ) a d at e, n o t les s t h an 1 0 d ay s f r o m t h e d a t e th e n o t i ce i s

m ai l ed t o Bo rro w er, by wh i ch s u ch b re a c h m u s t b e cu red ; an d (4 ) t hat

fai l u re t o cu re s u ch b reach o n o r b efo re t h e d at e sp eci fi ed i n t h e n o t i ce

10m ay res u l t i n accel erat io n o f th e s u m s s ecu red b y t h i s Deed

, an d s al e o f

t h e Pro pert y

. . . . If t h e b reach i s no t cu red o n o r b efo re t h e dat e

s p eci fi ed in t h e n o t i ce, Len d er, at L en d er’ s o p t i o n, m ay d ecl are al l of th e

s u m s s ecu red b y

t h i s Deed t o b e i m

m ed i at el y d u e an d p ay ab l e wi t h o u t

fu rt h er d em an d an d m ay

i n v o k e t h e p o wer o f s al e h erei n g ran t ed

. . . .

(Em p h as i s o m i t ted .) By i t s t erm s

, t h e accel erat io n cl au s e g o v ern s “ accel erat i o n o f t h e

s u m s s ecu re d b y t h i s D eed ”

— i .e., t h e u n d erl y i n g d eb t

— an d n o t t h e st at u t o ry

rev ers i on ary p eri o d ap p li cab l e t o t h e d eed

. An d th e g ran t o f au t h o ri t y t o “ decl are al l

o f t h e s u m s s ecu red b y t h i s Deed to be i m m ed i at el y du e an d pay ab l e” u p o n a n

u n cu red breach l i kewi s e s ay s n o t h i ng ab o ut t h e effect o f a b reach o n t h e st at u t o ry

rev ers i on ary

p eri o d

.

Fo r t h e ab o v e reas o ns

, w e h o l d t h at accel erat i o n o f t he u n d erl y i n g d eb t h as n o

effect o n t h e st at ut o ry rev ers io n ary p eri o d, wh i ch o p erat es i n d e p e n d en t l y o f t h e

s t at u te o f l i m i t at io n as to t h e d eb t

, an d we reject th e Head s ’ cl ai m t o th e co n t rary

. Ou r

ru l i n g t o t h at effect ren d ers i t u n n eces s ary t o ad d res s t h ei r co n t en t io n s t h at t h e t ri al

co u rt i m p ro p erl y i g n ored d is p u t ed fact u al i s s ues an d w ei g h ed t he ev i den ce reg ard i n g

wh et h er t h e d eb t was accel erat ed

, as a n y s u ch accel erat i on h as no b eari n g o n t h e

en fo rceab i li t y o f t h e Secu ri t y Deed

.

112

. Th e Head s fu rt h er co n t en d t h at t h e t ri al co u rt erred wh en it reject ed t h ei r

cl ai m t h at fo recl o s u re i s b arred b y l ach es

. Ag ai n, we d is ag ree.

Th e d o ct ri n e o f l ach es i s co d ifi ed i n two s t at ut es : (i ) O C G A § 9 -3 -3

, wh i ch

p r o v id es

, i n rel ev an t p art

, t h at “ co u rt s o f eq u i t y m ay i n terp o s e an eq u it ab l e b ar

wh en e v e r

, f

r o m t h e lap s e o f t i m e an d l ach es o f t h e co m p lai n an t

, i t wo u l d b e

i n e q u i t ab l e t o al l o w a p art y to en fo rce h i s l eg al ri g h ts ”; an d (i i ) OCGA § 2 3

- 1

- 2 5

,

wh i ch p ro v id es : “ Eq u i t y g iv e s n o r e l i e f t o o ne wh os e l o n g d el ay ren d ers t h e

a s c e r t ai n m en t o f t h e t ru t h d i ffi cu l t

, ev en wh en no l eg al l i m it at i o n b ars th e ri g h t

. ”

“ Un d er t h e d o ct ri ne o f l ach es

, a p art y i s b arred fro m recei vi n g eq u i t ab l e rel i ef wh en

h e h as u n reas o nab l y d el ay ed in s eek i n g t h at rel i ef an d s u ch d el ay is p reju d i ci al t o t h e

p ers o n fro m wh o m th e rel i ef i s s o u g h t .” Rh o ne v. Bo l d en

, 2 7 0 Ga. Ap p

. 7 1 2

, 7 2 1 (9 )

(6 0 8 SE2 d 2 2 ) (2 0 0 4 ).

Lach es is a d

ef en se t h at i s g ro u n ded in p ri n ci p l e s o f e q u i t y

. See Red f ea r n v.

H u n t cl i f f Ho mes As sn

. , 2 7 1 Ga. 7 4 5

, 7 4 8 -7 50 (3 )-(4 ) (5 2 4 SE2 d 4 64 ) ( 1 9 9 9 )

.

Co n s eq u en t l y

, i t i s n o t av ai l ab le t o a p l ai n t i ff. S t eel e v. W a ycr o s s

, 1 9 0 G a. 8 1 6

, 8 2 2

-

8 2 3 (3 ) (1 0 SE2 d 8 67 ) (1 9 4 0 ) (b y i ts p l ai n t erm s

, a p red eces so r t o OCGA § 9 -3 -3

—

w h i c h was i d en ti cal i n rel ev an t p art to t he cu rren t s t at u t e — m ad e t h e defen s e o f

l ach es av ai l ab l e o n l y to th e d e f en d an t an d n o t t o “ t he co m p l ai n an t ”); Ga

. R. &

12Ba n ki n g

Co . v. W r i gh t , 1 2 4 Ga. 5 9 6

, 6 2 0 (1 8 ) (5 3 SE 2 51 ) (1 9 0 6 ) (u n d er an earl i er

— an d al s o m at eri al l y id en t i cal

— p r e d e c e s s o r t o OCGA § 9 -3 -3

, t h e defen s e o f

l ach es was “ av ai lab l e t o t h e d efen d an t o n l y

, an d [co u l d ] n o t b e em pl o y ed b y t h e

co m p l ai n an t i n an eq u i t ab l e p ro ceed i n g t o en jo i n t h e e n f

o r c e m e n t o f a p u rel y l eg al

ri gh t ”), rev ’ d o n o t h er gro un d s

, Cen t r a l o f Ga

. R. Co

. v. W

ri g h t

, 2 0 7 U

. S. 12 7

, 1 4 1

-

1 4 2 (2 8 SCt 4 7

, 5 2 LE 1 3 4 ) (1 9 0 7 ); Ni ch o la s v. Va n

, 2 5 2 Ga. Ap p. 4 1 1, 4 1 4 (5 5 6

SE2 d 4 9 7) (2 00 1 ) (t h e p lai n t i ff co u l d n o t tak e ad v an t a g e o f t h e defen d an t -ci t y ’ s

al l eg ed lach es t o ex cu s e t h e p l ai n t i ff’ s l at e an t e l i t em n o t i ce b ecau se OCGA § 9 -3 -3

affo rd s rel i ef res u l t in g o n l y fro m t h e lach es o f “ t h e co m p l a i n a n t ” ) (ci t at i o n,

p u n ct u at i o n , an d em

p h as i s o m i t t ed ), d is ap p ro v ed i n p art o n o t h er g ro u nd s

, Dep t

. of

Pu b

. S a f et y v. Ra g s d a l e

, 3 0 8 Ga. 21 0

, 21 3 -2 15 & n. 7 (8 3 9 SE2 d 5 4 1) (2 0 2 0 ); s ee

al s o g en eral ly Ha l l v. Tr ub ey

, 2 6 9 Ga. 1 9 7

, 1 9 9 (1 ) (4 9 8 SE2 d 2 5 8 ) (1 9 9 8 ) (“ A co u rt

o f eq u i t y m ay bar a co m p l ai n t b as e d o n l a c h e s wh en t h e lap s e o f t i m e an d t h e

cl ai m an t ’ s n e g l e ct i n as s ert i n g ri g ht s res u l t [ ] i n preju d ice to t h e ad v ers e p art y .”);

T r o u p v. Lo d en

, 26 6 Ga. 6 5 0, 6 5 1 (1 )-(2 ) (4 6 9 SE2 d 66 4 ) (1 9 9 6 ) (t o s ucces s f u l l y

as s ert t h e “ fact u al d efen s e” of l ach es

, “ [t ] h e d efen d an t m u st s h o w p reju d i ce fro m t h e

d el ay ”). It t h erefo re i s n o t s u rp ri s i n g t h at th e p art i es h av e n o t ci t ed

, an d res earch h as

13n o t rev eal ed

, an y Geo rg i a ap p el l at e d eci s i on s en do rs i n g a p lai n t i ff’ s cl ai m o f l ach es

ag ai n s t a d efen d an t

, as t he Head s s eek t o d o h ere.

In d eed

, i n t h e on l y

d eci s i o n we h av e fo un d co n t em p lat i n g l ach es u n d er s u ch

ci rcu m s t an ces

, t h e Su p rem e Co u r t o f G eo rg i a reject ed a p l ai n t i ff’ s cl ai m

— i n an

act i on t o en

jo i n t h e d efen d an t fro m fo recl o s i n g o n a s ecu ri t y d eed an d fo r

can cel l at i o n o f th e d eed

— t h at t h e d efen d an t ’ s ri g h t s un d er t h e deed were b arred by

l ach es

. Br i n s o n

, 2 6 3 Ga. at 8 0 2, 8 0 3 (2 ). Th e Co u rt ex p lai n ed

, “ Pro v i d ed t h e ri g h t to

fo recl o s e o r o t h erwi s e reco v er t h e l an d co n vey ed b y t h e s ecu ri ty d eed i s n ot b arred

b y t h e p ro v i s i o n s o f OCGA § 4 4 -1 4 -8 3 ”

— wh ich b ars fo recl o s u r e a f t e r t i t l e h as

rev ert ed b y s t at u t e

— “ ev en i f t h e ev i d en ce at tri al rev eal s t h at an act i o n t o co l l ect t h e

d eb t i s b arred b y t h e s t at u te o f l i m i t a t i o n

, s u ch wo u l d n o t p rev en t [t h e d efen d an t ]

fro m ex erci s i n g [i t s ] ri g h ts u n de r t h e s e cu ri t y deed .” 4 Id

. at 8 0 3 (2 ). Th u s

, ev en i f

4 Th e Head s h i gh l i g h t a fo o t n o t e i n Br i n so n

, i n wh i ch t h e Co urt s t at ed t h at “ t h e

s ecu ri t y d eed ceas es t o b e effect i v e wh en t h e p ower o f s al e i s barred b y t h e s t at u t e o f

l i m i tat i on ” an d ci ted “ OCGA § 4 4 -1 4 -8 0 et seq .” 26 3 Ga. at 8 02 (1 ), n

. 2

. Wh e n

v i ewed i n co n tex t wi t h t h e ci t ed s t at u t o ry p ro v i s i o n s , i t i s ap p aren t t h at t h e “ s t at u t e

o f li m i t at i o n ” m en t io ned i n t h e Br in s o n fo o t n o t e refers t o t h e rev ers io n ary p eri o d s in

OCGA § 4 4 -1 4 -8 0

.

14l ach es arg u ab ly co u l d be av ai l ab l e t o a p l ai n ti ff s eek in g t o en jo i n a fo recl o s u re s al e,

Br i n s o n sq u arel y fo recl o s es t h e Head s ’ cl ai m t h at l ach es m ay b ar fo recl o s ure h ere. 5

Ju d g men t a f f i r m ed . Do yl e, P. J., a n d

Go b ei l , J., co n cu r

.

5 In Pa t el

, 3 2 7 Ga. A p p

. at 32 1 -3 2 2, 3 2 5 (1 ) & n

. 1 5

, we reject ed t h e p l ai n t i ffap p el l an t s ’ cl ai m t hat l ach e s b a rred t h e d efen d an t -l en d er’ s co u n t ercl ai m s eek i n g

r e insta te m e nt of a n e rro n eo u s l y -can cel l ed secu ri t y d eed

. Un de r the pr oc e d u r a l postur e

o f th at cas e, t h e d efen dan t s t o o d i n th e s h o es o f a p l ai n t i ff fo r p u rp o s es o f i t s

co u nt ercl ai m

, an d t h e p l ai n t i ffs t h u s s t o o d i n t he s h oes of d efen d an ts as sert i n g l ach es

as a d efen s e, rat h er t h an o ffen s i v el y

.

15