First Investment Co. v. Allstate Insurance Co.

OPINION

KOCH, Judge.

This appeal involves a mortgagee’s efforts to recover against its mortgagors’ insurance policy after a fire damaged the mortgaged property. The mortgagee bid in the property at foreclosure and then sued the mortgagor’s insurer in the Chancery Court for Davidson County after the insurer refused to pay its claim. The trial court granted the mortgagee’s motion for summary judgment and awarded it $27,119. The insurer has appealed. We reverse the summary judgment because the mortgagee had no insurable interest under the mortgagor’s insurance policy after it purchased the…