Tellico Village Property Owners Association, Inc. v. Health Solutions, LLC, et al.

Tellico Village Property Owners Association, Inc. (“TVPOA”) sued Health Solutions, LLC; Tellico Senior Living, LLC; Citizens National Bancorp, Inc. d/b/a Citizens National Bank of Tennessee; Home Federal Bank Corporation d/b/a Home Federal Bank; and NBN Corporation d/b/a National Bank of Tennessee (“National Bank”) with regard to a failed development project. TVPOA asked the Trial Court to declare that TVPOA’s option agreement concerning real estate in the development project had priority over certain recorded deeds of trust. National Bank appeals the Trial Court’s grant of partial summary judgment to TVPOA raising issues about whether the Memorandum of Agreement and Development Agreement between TVPOA and the Developer and the Developer Company violated the statute of frauds, and the Trial Court’s grant of TVPOA’s motion in limine to exclude evidence on National Bank’s claim of unjust enrichment. We find and hold that National Bank was not a party to the Memorandum of Agreement or the Development Agreement and, therefore, may not raise a statute of frauds defense. We further find and hold that the Trial Court did not err in excluding evidence on National Bank’s claim of unjust enrichment.