Father land: Huguely's Morgantown property yanked from foreclosure

cover-laxmurd-huguely-insetHuguely allegedly played golf at Farmington Country Club with his dad the day that Yeardley Love died.
FILE PHOTOS BY UVA, CPD

Besides being accused of murder in the death of UVA classmate Yeardley Love, George W. Huguely V has been branded a spoiled rich kid. But according to an action taken by a local lender, the Huguely family appears to be enduring the kind of financial setbacks that have affected many property owners in the ailing American economy.

According to property and other public records, an 8.34-acre parcel of land along upscale Morgantown Road owned by a company controlled by the accused killer's father, George W. Huguely IV, has fallen into foreclosure proceedings.

The auction, under the auspices of Charlottesville attorney Rick Carter, was slated for the steps of the Albemarle County courthouse at noon on Tuesday, December 7. According to a source, that auction was called off. The reason, says Carter, is that the land-owning company has declared Chapter 11 bankruptcy.

Purchased five years ago for $485,000 in a transaction funded by Virginia National Bank, the originally 10.34-acre property was replatted a year later with a two-acre parcel sold off as the building site. The remaining land appears to contain no house.

An early deed of trust from VNB shows indebtedness of $325,000. How much debt remained on the property at the time of the foreclosure action could not be immediately learned.

The Albemarle assessor values the tract at $333,800. The property is held by a West Virginia partnership whose general partner, and the person signing the documents, is George W. Huguely IV. The company's legal address is a building in Bethesda, Maryland, that also serves as the headquarters for the Huguely Companies. Efforts to reach the elder Huguely were not immediately successful.

In 1993, a West Virginia firm bearing the same name declared bankruptcy in Maryland's federal bankruptcy court. Whether there was any connection to Huguely's company could not be immediately determined.

Huguely's son has resided in the Albmarle Charlottesville Regional Jail since May 3, the day of the slaying. His lawyer has termed the young woman's death a tragic accident.

–DEVELOPING–

–original headline retired (as tonally inappropriate): Killer land? Huguely's Morgantown property yanked from foreclosure

22 comments

Of course this is news. I read the story simply because it pertained in any matter to young George Huguely. My take on the story is that all the family monies need to be invested directly into young George's defense. Tells me something.

No, it's completely typical Hook fare, dirty up the family when only one is guilty (allegedly)of anything. A common land transaction, they throw up the picture of a murderer (allegedly) to draw an audience to an otherwise mundane story. Well done Hook. You've been doing this a lot lately.

Sounds like private family business to me. why is it newsworthy?

Who cares? When the bleeding heart liberal C-ville jury lets him off the hook like they did Alston, he can take over the family business and get things up and running again. This whole murder thing is just a bump in the road for them.

It will become much more newsworthy in January when Huguely's defense plays their cards. It is very expensive to prevent your son from going down the first degree murder path.

Since "THE HOOK" is a free read= If you don't like what it feels is news or how it prints something DON'T read it!! LMAO

Morris Shifflett is incorrect.

A so-called "liberal" jury is not what got Andrew Alston a light (three-year) sentence in the Walker Sisk case.

There was a combination of factors involved, including (1) the ability of Alston's father to fund a costly defense, (2) the acquittal of Alston on an assault charge against his girlfriend (engineered by his dad), and (3) the fact that virtually all participants in the altercation that led to Sisk's death were drunk when it happened, making the "truth" harder to ascertain.

Go back to the articles posted below Morris, and re-read.

http://www.readthehook.com/Stories/2003/11/27/newsNotGuiltyMurderSuspect...

http://www.readthehook.com/Stories/2004/11/18/coverTheVerdictSisksFamily...

Because I knew and liked Walker Sisk, I thought the jury erred.

But to simply categorize a perceived error in justice as the result of a "bleeding heart liberal" jury is more than a little narrow-minded.

Why blame the messenger? The Hook did not kill this person........none of this would be newsworthy if George Hugugely did not murder this person- PERIOD!!

Mrs. Love has created an incredible foundation for her daughter. One Love: this will insure that Yeardley will forever be remembered for the remarkable, energetic, beautiful and bright young woman that she was. Yeardley was an unique blend of huge vibrant character combined with solid values and work ethic that is rare. This foundation seems to be designed to reflect her amazing spirit and to remind us of the thousands of good things she gave us in her short time here. She will not be forgotten.

Caroline- I agree- it is sad that none of Yeardley's friends tried to intervene in the issue she was having with Hughuley. I truely wish there were no outcome in the matter due to invervention and protection.

ââ?¬â??original headline retired (as tonally inappropriate): Killer land? Huguely’s Morgantown property yanked from foreclosure
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Was that "tonally" or "totally" inappropriate?

@Yes: That would be both. Mea culpa.--hawes spencer

What is the latest with the case. Thought there was a hearing October 8, haven't been able to find the outcome.

deleted by moderator

JJ - guess the apple didn't fall far from the tree.

You gotta enjoy this..............

"Huguely’s son has resided in the Albmarle Charlottesville Regional Jail since May 3, the day of the slaying."

that has to be the highlight of his life.

If you attach a forum such as this blog to an article, you will get opinion, that's the point!!!

I agree HarryD.

How does the article show that Huguely is NOT a spoiled rich kid?