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COLLATERAL INV. CO. v. PILGRIM

Civ. 3092.

421 So.2d 1274 (1982)

COLLATERAL INVESTMENT COMPANY, a corporation v. Harold H. PILGRIM, Jr., d/b/a The Light House.

Court of Civil Appeals of Alabama.

Rehearing Denied July 7, 1982.

Certiorari Denied, November 19, 1982.

Attorney(s) appearing for the Case

Jesse P. Evans, III, of Smyer, White, Taylor, Evans & Sanders, Birmingham, and Michael E. Sparkman of Doss & Sparkman, Hartselle, for appellant.

Steven E. Haddock of Aldridge & Haddock, Decatur, for appellee.

Robert H. Harris of Caddell, Shanks, Harris, Moores & Murphree, Decatur, for amicus curiae Bldg. Material Merchants' Ass'n.

Alabama Supreme Court 81-907.

BRADLEY, Judge.

This case involves the priority of liens on real property.

Cameron, Inc. purchased two tracts of land for the construction of residential housing. The first tract of land was used for the construction of town homes. On October 31, 1979 Cameron executed a construction money mortgage to Central Bank of Alabama upon the entire tract in the amount of $514,000.00. On January 9, 1980 Cameron executed a construction...

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