In 2014, Humphrey Investments, LLC, executed a mortgage in favor of Quality First Financial, Inc., which was secured by the “disputed property.” On March 26, 2015, Quality First Financial, Inc. foreclosed upon the mortgage and purchased the disputed property at a foreclosure sale. On August 19, 2015, Steven G. Humphrey, an "authorized member" of Humphrey Investments, LLC, executed two documents in favor of Oak Road, each entitled "Assignment of Statutory Right of Redemption"; Steven Humphrey executed one of those documents on his own behalf and the other on behalf of Humphrey Investments, LLC (Steven Humphrey and Humphrey Investments, LLC, are hereinafter referred to collectively as "the assignors"). On August 24, 2015, Quality First Financial, Inc., executed a warranty deed conveying its interest in the disputed property to Oak Road.

On March 23, 2016, Steven Humphrey executed a quitclaim deed, individually and on behalf of Humphrey Investments, LLC, conveying their interests, "including the right of redemption," in the disputed property to Asset. Two days later, Asset initiated an action in the circuit court seeking to redeem the disputed property pursuant to Ala. Code § 6-5-248.

Asset argued on appeal that it acquired the assignors' statutory rights of redemption via the March 23, 2016, quitclaim deed and properly exercised that right by filing its complaint in the circuit court. Oak Road argued that the circuit court's judgment should be affirmed because it had already acquired the assignors' statutory rights of redemption before they executed the quitclaim deed to Asset. 

On appeal, the Alabama Court of Civil Appeals distinguished between the “equity of redemption,” which exists prior to foreclosure and is in fact a property right, and the statutory “right of redemption,” which is a mere personal privilege created by statute.

The Court of Appeals held that "once the [assignors] assigned their statutory right of redemption to Oak Road on August 19, 2015, the [assignors] no longer possessed any enforceable right of redemption, neither to exercise it themselves nor to assign it to Asset." Thus, the plain language of § 6-5-248(a)(5) indicates that, through their August 19, 2015, assignments to Oak Road, the assignors had transferred their statutory rights of redemption to Oak Road and had effectively disposed of and parted with those interests in the disputed property, such that they could not subsequently convey those dispossessed interests to Asset via the quitclaim deed that was executed on March 23, 2016.