City of Birmingham v. Business Realty Investment Co.

MADDOX, Justice.

This case involves a dispute between, on the one side, a mortgagor, Business Realty Investment Company, Inc. (“BRIC”), and its president, Rick Bentley, and, on the other side, the City of Birmingham (the “City”) over the amount the mortgagor must pay the City in order to redeem certain property.

The issue presented to the trial court was whether BRIC was required to pay the purchase price paid by the City when it foreclosed on the mortgaged property and purchased it at a foreclosure sale ($163,874) or whether BRIC was required to pay the total amount of the outstanding debt…