SOUTHEAST ENTERPRISES, INC. v. BYRD

1960484.

720 So.2d 873 (1998)

SOUTHEAST ENTERPRISES, INC. v. Jerry H. BYRD, et al.

Supreme Court of Alabama.

Rehearing Denied August 21, 1998.


Attorney(s) appearing for the Case

Robert H. Brogden, Ozark, for appellant.

James R. Fuqua and Bill Kominos of Fuqua & Kominos, Ozark, for appellees.


SEE, Justice.

Southeast Enterprises, Inc. ("SEI"), a junior mortgagee, sought to redeem a tract of real property from Jerry and Sharron Byrd, who had purchased the property at a foreclosure sale. In computing the redemption price to be paid by SEI, the trial court began with the purchase price the Byrds had paid; then it (1) added the balance of an outstanding higher-priority mortgage; (2) computed interest on the entire...

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