Louis Brooks v. Lee Creech

This matter involves a fraudulent transfer of real property and violation of Tennessee's Consumer Protection Act occurring as a result of Plaintiff's attempt to obtain a loan using his real property as collateral. In return for a loan of $4000.00, Plaintiff quit claimed his home as collateral and gave Defendant Creech physical possession of the promissory note in exchange for the loan. Defendant Stigall, who had office space in the same office, was listed as trustee of the property and payee on the promissory note. She then represented herself to First American Bank as owner of the property and wife of Defendant Creech, obtaining a loan for $42,000.00 and offering Plaintiff's property as collateral. The trial court found that Defendants Stigall and Creech were involved in a conspiracy and that they violated the Tennessee Consumer Protection Act and defrauded Plaintiff and First American Bank (now AmSouth Bank). The court reformed the Quitclaim Deed into a Deed of Trust, giving the bank a subrogation in the $4000.00 owed to Defendant Stigall. Only Defendant Stigall appeals. We affirm the trial court's decision in its entirety.