Supreme Court of Alabama
Evabank v. Traditions Bank
February 9, 2018258 So. 3d 1119
Summary
The court reversed the summary judgment requiring EvaBank to release its mortgages because Traditions Bank and TBX Title could not establish equitable estoppel as a matter of law. EvaBank's mistaken payoff statement was not shown to have been intended to induce reliance, and the undisputed discrepancies in the closing documents made reliance without further inquiry unreasonable. The court also concluded that the statutory provision concerning corrected payoff statements did not apply because the payoff information was obtained by telephone.