Commercial Real Estate & Building Ass'n v. Parker
Supreme Court of Alabama
Appeal from Montgomery Chancery Court. Heard before Hon. Thomas W. Coleman. This was a bill in equity to redeem real estate filed by the original mortgagors, and their assignees respectively of the equity of redemption, and the statutory right to redeem, alleging a tender by each of the parties complainant just previous to the expiration of two years from the date of sale of the property under the power contained in the mortgage.
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Appeal from Montgomery Chancery Court. Heard before Hon. Thomas W. Coleman. This was a bill in equity to redeem real estate filed by the original mortgagors, and their assignees respectively of the equity of redemption, and the statutory right to redeem, alleging a tender by each of the parties complainant just previous to the expiration of two years from the date of sale of the property under the power contained in the mortgage. The appellant, and defendant, filed an answer, (which it is not necessary to consider) and a demurrer to the bill. The demurrer set up want of equity in the bill,…
1Opinion of the CourtSomerville, J.
1. In the case of Poioers v. Andrews, 84 Ala. 289, we have held that the vendee or assignee of a mortgagor’s equity of redemption, not being named in the statute among those to whom is accorded the statutory right of redemption — by which is meant the right to redeem after sale under execution, or foreclosure of a mortgage by decree, or under a power of sale — is by necessary implication excluded from the exercise of such privilege, with the single exception, specified in the statute itself, of a child of the debtor and owner to whom his parent had conveyed the land. — Code, 1886, §§ 1879 el…
2Cases cited6 opinions
- Powers v. AndrewsSupreme Court of Alabama · 1887
- Childress v. MonetteSupreme Court of Alabama · 1875
- Otis v. McMillan & SonsSupreme Court of Alabama · 1881
- Parmer v. ParmerSupreme Court of Alabama · 1883
- Posey v. PressleySupreme Court of Alabama · 1877
1 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Staples v. BarretSupreme Court of Alabama · 1926
- McDuffie v. FaulkSupreme Court of Alabama · 1926
- Rainey v. McQueenSupreme Court of Alabama · 1898
- Brannan v. AdamsSupreme Court of Alabama · 1919
- Costa & Head (Birmingham One), Ltd. v. National Bank of Commerce of BirminghamSupreme Court of Alabama · 1990
9 more not listed; retrieve them via the Exa API.