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12-13-53
Section 12-13-53 Failure to collect recording or registration tax, etc., upon mortgages, deeds
of trust, etc. Any probate judge who shall file for record or shall record any mortgage, deed
of trust or other instrument in the nature of a mortgage without collecting the recording
or registration tax provided for the recording or registration of such instruments or who
shall fail to certify the fact that said tax has been paid before the filing and recording
of such instrument shall be guilty of a misdemeanor and, upon conviction, shall be fined not
less than $10.00 nor more than $100.00. (Code 1907, §7458; Code 1923, §5050; Code 1940,
T. 13, §282.)...
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27-22-60
Section 27-22-60 Definitions. As used in this article, the following terms shall have the following
meanings: (1) LENDER. A person who holds a mortgage, lien, deed of trust, or other security
interest in property. The term includes an assignee, receiver, or other transferee of the
interest. (2) RESIDENTIAL REAL PROPERTY. Any of the following: a. A single-family house. b.
A duplex, triplex, or quadraplex. c. A unit in a multi-unit residential structure in which
title to an individual unit is transferred to the owner of the unit under a condominium or
cooperative system. (Act 2019-460, §1.)...
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27-41-30
Section 27-41-30 Particular investments - Loans, notes, etc., secured by mortgages and leases
on real property. An insurer may invest in loans, notes, bonds, or other evidences of indebtedness
of any person up to the fair value of real property securing said indebtedness, upon compliance
with the following conditions and provisions: (1) The indebtedness must be secured by a first
mortgage lien on real property having a fair value of not less than the principal amount of
the loan, except as provided in subdivision (8) of this section; (2) The indebtedness must
be additionally secured by a lease on said real property, which lease must be assigned and
transferred by the lessor to the lender or to a trustee of the lender under a trust instrument;
(3) The lease so assigned as additional security must be noncancellable and may be terminated
only upon such conditions as are generally provided in commercial leases, such as, for example,
destruction by fire, tornado, or similar hazard or...
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35-10-11
Section 35-10-11 Definitions. Unless the context otherwise requires, the words defined in this
section shall have the following meanings when they appear in this article: (1) MORTGAGE.
Any mortgage, deed of trust, or any other instrument intended to secure the payment of money,
such as an instrument which includes a vendor's lien. (2) MORTGAGEE. All mortgagees, grantees
or creditors in any mortgages, any trustees under deeds of trust, or any persons entitled
to the money secured by any instrument intended to secure the payment of money such as an
instrument which includes a vendor's lien. (Acts 1988, 1st Ex. Sess., No. 88-906, p. 479,
§1.)...
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35-10-15
Section 35-10-15 Successive sales under power permitted. The sale of any part of the property
conveyed by mortgage, deed of trust, or other instruments intended to secure the payment of
money, either under a power of sale contained in a mortgage, or by a judicial foreclosure,
shall operate as a foreclosure of the mortgage only as to the property sold, and if the mortgage
indebtedness is not thereby satisfied in full, the other property contained in the mortgage
continues as security for the mortgage debt and there may be a further foreclosure of the
mortgage, either by sale under power of sale or by foreclosure. Every power of sale contained
in mortgages unless otherwise expressly provided therein, is held to give a continuing power
of sale authorizing the mortgagee or his assignee after default, to sell the mortgaged property
from time to time in separate lots or parcels. (Acts 1988, 1st Ex. Sess., No. 88-906, p. 479,
§5.)...
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40-22-6
Section 40-22-6 Tax upon recording transfer of instrument recorded by exempt institution -
Generally. If any mortgage, deed of trust, contract of conditional sale, or other instrument
of like character heretofore or hereafter filed for record in any probate office of this state
which was or shall be given to secure the payment of any debt incurred to a corporation, organization,
or institution now or hereafter exempt by law from the payment of the recording privilege
tax imposed by Section 40-22-2 and upon which such recording privilege tax has not been previously
paid has been heretofore or be hereafter transferred to a person, corporation, organization,
or institution not exempt from payment of such tax and such transfer is presented for record
within this state, such transfer shall be received for record upon payment of the privilege
tax imposed by said section upon the then unpaid balance of the secured debt and the recording
fees of the probate judge. (Acts 1951, No. 816, p. 1449,...
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41-9-962
Section 41-9-962 Authority to issue revenue bonds; purposes; redemption; maturity date limitation;
public or private sale; obligations of project not state; security. (a) The commission shall
have the power and authority to issue and sell at any time its revenue bonds for the purpose
of providing funds to acquire, transport, outfit, renovate, maintain, improve, and berth the
items relevant to the Tuskegee Airmen and other related historic artifacts and to construct,
improve, enlarge, complete, maintain, operate, and equip the museum established in this article
and for the payment of obligations incurred. (b) The principal of and interest on any bonds
shall be payable solely out of the revenues derived from the project. All bond service payments
shall be subordinate to the acquisition, establishment, and maintenance of a reasonable maintenance
and operating fund. (c) Any bonds of the commission may be delivered by the commission at
any time and shall be in such form and denominations...
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6-9-61
Section 6-9-61 Destruction of lien upon execution of bond for appeal, etc. The execution of
a bond for an appeal by which the judgment is suspended or the execution of a bond by the
defendant upon the proper officer granting an injunction, stay of execution, or restraining
order destroys the lien created by the recording of the certificate of the judgment or the
levy of the execution upon personal property. The clerk of the court in which such
bond, injunction, stay, or restraining order is granted shall, at the request of the party
filing such bond or obtaining such order, note such fact on the margin of the record where
the certificate of judgment is recorded in the event such certificate has been filed in the
probate office. (Code 1852, §2458; Code 1867, §2874; Code 1876, §3212; Code 1886, §2896;
Code 1896, §1894; Code 1907, §4094; Code 1923, §7809; Code 1940, T. 7, §522.)...
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22-27-60
Section 22-27-60 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2019 REGULAR SESSION,
EFFECTIVE SEPTEMBER 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. As used in this article,
the following terms shall have the following meanings: (1) LENDER. A person who holds a mortgage,
lien, deed of trust, or other security interest in property. The term includes an assignee,
receiver, or other transferee of the interest. (2) RESIDENTIAL REAL PROPERTY. Any of the following:
a. A single-family house. b. A duplex, triplex, or quadraplex. c. A unit in a multi-unit residential
structure in which title to an individual unit is transferred to the owner of the unit under
a condominium or cooperative system. (Act 2019-460, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-27-60.htm - 1K - Match Info - Similar pages
35-10-25
Section 35-10-25 Executors and administrators authorized to execute releases, etc. Any executor
of a will or administrator of an estate duly appointed by the proper court shall have authority
to execute releases and discharges and may enter satisfaction on the margin of the record
of any mortgage, lien, or other encumbrance in favor of a decedent when payment of such mortgage,
lien, or encumbrance was made to said decedent in his lifetime. (Code 1923, §9025; Code 1940,
T. 47, §180.)...
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