Right of Redemption in Alabama
My partner has purchased a property in Bessemer, Alabama that was foreclosed on. The bank foreclosed on the property with a balance of roughly $15,000. The property was then sold at a loss to someone else who then sold the property to my partner. My partner paid roughly $10,000 for the property. This is my question. IF the person were to redeem the property during their right of redemption period, who would they pay and what amount? I've asked an attorney who says that the bank would be paid their $15,000 and my partner would NOT be paid his $10,000. I understand there would be interest, fees and improvements to be reimbursed, but the purchase price my partner paid would not be reimbursed? This doesn't seem right to me, but I'm not an attorney so maybe I'm just not understanding the law. I've read the law and am not able to interpret it clearly, so I'm giving the scenario in hopes for a clearer answer/explanation.