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COSTA AND HEAD v. NAT. BANK OF COMMERCE

88-1211.

569 So.2d 360 (1990)

COSTA AND HEAD (BIRMINGHAM ONE), LTD., et al. v. NATIONAL BANK OF COMMERCE OF BIRMINGHAM, et al.

Supreme Court of Alabama.

September 28, 1990.

Attorney(s) appearing for the Case

William H. Mills of Redden, Mills & Clark, Birmingham, for appellants.

Barry A. Ragsdale of Sirote & Permutt, Birmingham, for appellee Hibernia Nat. Bank.

Richard P. Carmody of Lange, Simpson, Robinson & Somerville, Birmingham, for appellee Deposit Guar. Nat. Bank.

Luther M. Dorr of Maynard, Cooper, Frierson & Gale, Birmingham, for appellee Nat. Bank of Commerce of Birmingham.

PER CURIAM.

This appeal involves a question of whether an "accommodation mortgagor," as holder of the legal title to the land located under a building in downtown Birmingham, has a statutory right to redeem only the land owned by it, which was mortgaged to the bank and which was sold by the bank at a foreclosure sale, or whether the "accommodation mortgagor" must pay the entire purchase price to the bank as purchaser at the foreclosure sale in order to redeem...

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