Denson v. Provident Mut. Life Ins. Co.

GARDNER, Justice.

The bill discloses that the mortgage on complainants’ realty was duly foreclosed by the mortgagee defendant pursuant to the power of sale therein contained. Such sale cut off the equity of redemption, and vested in the purchaser the legal title, leaving in the complainants only the statutory right of redemption. Allison v. Cody, 206 Ala. 88, 89 So. 238; Irby v. Commercial National Bank, 203 Ala. 228, 82 So. 478.

Such a right is not property or a property right, but a privilege merely (section 10156, Code 1923; Allison v. Cody, supra) to be exercised by the proper party in the…