Jim Walter Homes, Inc. v. County Clerk of Okfuskee County

STUBBLEFIELD, Presiding Judge.

Jim Walter Homes, Inc., is engaged in the business of building homes. In most instances, a landowner contracts with Walter to build a home on unimproved land and Walter takes a mortgage on the land as security for the contract price. When a mortgagor fails to make required payments, Walter obtains a foreclosure judgment for the amount of the money due on the contract and bids that amount when the property is sold at sheriffs sale. If Walter is the successful bidder, the property is conveyed to Walter by sheriffs deed. When such a deed is recorded in Okfuskee…