Carter County Bank purchases former Heilig-Meyers Building

By Bob Robinson
Star Staff

   Carter County Bank has purchased the building formerly occupied by Heilig-Meyers Furniture Co., corner of Sycamore and E Streets in Elizabethton, which went into bankruptcy late last year.
   Jim Holmes, president and CEO of Carter County Bank, said the bank, at the present time, plans to demolish the building and make a customer and employee parking lot.
   Records in the Carter County Register of Deeds Office show:
   * The building, which sits on .2309 acres, was transferred by Quitclaim Deed to Carter County Bank, in consideration of $10 cash, by Carl McCutcheon, local real estate appraiser, on Nov. 1, 2001.
   * McCutcheon purchased the property by Quitclaim Deed, dated Oct. 12, 2001, from Heilig-Meyers, for $131,000.
   An order, signed by the Chief Judge of the U.S. Bankruptcy Court for the Eastern District of Virginia "approving the debtors sale of certain real property free and clear of all liens and encumbrances," was recorded with the quitclaim deed and exhibits.
   The principal address of Heilig-Meyers Co., a Virginia corporation, is 12560 West Creek Parkway, Richmond, VA 23238.
   Other property in Tennessee sold by Heilig-Meyers include:
   -640 State Street, Bristol, to Nash & Powers Investments of Bristol, for $160,000;
   -4015 Dodds Ave., Chattanooga, to Custom Greenery Inc. of Chattanooga, for $225,000; and,
   -306 East Main Street, Rogersville, to Of One Accord, Inc. of Rogersville, for $250,000.
   Heilig-Myers also sold properties located in Mississippi, Alabama, Wisconsin, North Carolina, South Carolina, Colorado and California.
   Attorney Lanny R. Norris of Norris, Bush and Byrd, attorneys-at-law, 110 South Main St., Elizabethton, prepared the Quitclaim Deed.