|
19-5-1
Section 19-5-1 Definitions. For purposes of this chapter unless the context otherwise requires,
the following terms mean: (1) FIDUCIARY. Includes a personal representative or trustee. (2)
PERSONAL REPRESENTATIVE. An executor, administrator, special administrator, or a person who
performs substantially the same function under the law governing the person's status, and
a successor to any of the above. (3) TRUST. Any express trust, with additions thereto, wherever
and however created, or any separate share of a trust, and includes any arrangement, other
than an estate, which, although not a trust, has substantially the same effect as a trust.
(4) TRUSTEE. An original, additional, or successor trustee, whether or not appointed or confirmed
by a court, and, in the case of an arrangement which is not a trust but which is treated as
a trust for purposes of the GST, includes the person in actual or constructive possession
of the property subject to such arrangement. (5) INTERNAL REVENUE CODE....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-5-1.htm - 1K - Match Info - Similar pages
43-2-410
Section 43-2-410 Power of sale conferred. Any part of the personal property of a decedent,
including land warrants and choses in action, may be sold only by order of the court, on the
written application of the executor or administrator, verified by affidavit, in the following
cases, unless, in such cases, power to sell is conferred by the will: (1) For the payment
of debts. (2) To make distribution among the distributees or legatees. (3) To prevent the
waste or destruction of property liable to waste, or of a perishable nature, if it is proved
that the sale would be beneficial to the estate. (Code 1852, §1743; Code 1867, §2067; Code
1876, §2433; Code 1886, §2092; Code 1896, §142; Code 1907, §2606; Code 1923, §5832; Code
1940, T. 61, §228.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/43-2-410.htm - 1K - Match Info - Similar pages
11-40-68
Section 11-40-68 Foreclosure sale; form of deed. (a) Following the hearing and order of the
court in accordance with Section 11-40-66, the court shall cause a sale of the real property
to be advertised and conducted by the court in a manner similar to that procedure contemplated
by Section 40-10-15. The sale shall not occur earlier than 45 days following the date of the
order of the court. (b) Except as otherwise authorized by law, the minimum bid price for the
sale of the real property shall be the redemption amount. (1) In the absence of any bid higher
than the minimum bid price, the court or its designee shall bid in for the real property on
behalf of the Class 2 municipality or its designee in an amount equal to the minimum bid price,
thereby causing the Class 2 municipality to become the purchaser at the sale pursuant to Section
11-40-66. (2) A bid in on behalf of the Class 2 municipality or its designee shall be tendered
as a credit bid for that part of the minimum bid price...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-40-68.htm - 7K - Match Info - Similar pages
11-51-25
Section 11-51-25 Redemption of property after sale - Redemption by municipality; redemption
from municipality. The city or town may redeem property at any sale made by the state for
taxes upon the same terms as required by law for owners to redeem, and no person shall be
allowed to redeem from the municipality without paying to the city or town the amount paid
to redeem such property and all claims of the city or town thereon for taxes and penalties
or otherwise, and no redemption shall be made in any case from the municipality or from a
purchaser after two years from the date of the sale. (Code 1907, §1330; Code 1923, §2145;
Code 1940, T. 37, §691.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-51-25.htm - 975 bytes - Match Info - Similar pages
43-2-421
Section 43-2-421 Stock in trade. (a) When any person engaged in mercantile business dies, leaving
a stock of goods, wares and merchandise, and leaving no surviving partner in such business,
the executor or administrator of his estate may sell such stock or goods, wares or merchandise,
either at public or private sale, by wholesale or retail, upon first obtaining an order for
such sale, as provided in subsection (b) of this section, from the probate court having jurisdiction
of the estate. (b) To obtain such order, the executor or administrator must file in such court
an application in writing, verified by his oath, setting forth with reasonable certainty the
kind, quantity and estimated value of such goods, wares or merchandise, and any facts or circumstances
that may render it necessary or expedient to sell the same; and if it should appear to the
court that it would benefit those interested in the estate that such order should be made,
the court must make the same, and may, in its...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/43-2-421.htm - 1K - Match Info - Similar pages
11-48-54
Section 11-48-54 Redemption of property after sale generally. Any real property heretofore
or hereafter sold for the satisfaction of a local improvement assessment lien imposed thereon
by the governing body of a municipality may be redeemed by the former owner, or his assigns,
or other person authorized to redeem property sold for taxes by the State of Alabama within
two years from the date of such sale by paying to the purchaser at such sale or to any person
deraigning title under such purchaser or to the city or town treasurer for such purchaser
or person deraigning title under such purchaser the amount of the purchase price for which
the property was sold at such sale plus an amount equal to interest on such purchase price
from the date of such sale to the date of redemption at the rate of six percent per annum
plus a fee of $2.00 to cover the expense of a conveyance. If the redemption is made from the
municipality, the payment may be made upon such terms including installment...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-48-54.htm - 1K - Match Info - Similar pages
19-3A-102
Section 19-3A-102 Definitions. As used in this chapter, the following terms are defined as
follows: (1) ACCOUNTING PERIOD. A calendar year unless another 12-month period is selected
by a fiduciary. The term includes a portion of a calendar year or other 12-month period that
begins when an income interest begins or ends when an income interest ends. (2) BENEFICIARY.
Includes, in the case of a decedent's estate, an heir, legatee, and devisee and, in the case
of a trust, an income beneficiary and a remainder beneficiary. (3) FIDUCIARY. A personal representative
or a trustee. The term includes an executor, administrator, successor personal representative,
special administrator, and a person performing substantially the same function. (4) INCOME.
Money or property that a fiduciary receives as current return from a principal asset. The
term also includes a portion of receipts from a sale, exchange, or liquidation of a principal
asset, to the extent provided in Article 4. (5) INCOME...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3A-102.htm - 4K - Match Info - Similar pages
35-6A-10
Section 35-6A-10 Methods of sale. (a) If the court orders a sale of heirs property, the court
shall order that the sale be conducted by one or more of the following methods of sale: Open
market sale with or without a broker or brokers; by sealed bids; public auction; or private
sale. The court shall choose a method which shall be more economically advantageous and in
the best interest of the cotenants as a group. (b) If the court orders an open market sale
with or without a broker and the parties, not later than 10 days after the entry of the order,
agree on a real estate broker or brokers licensed in this state to offer the property for
sale, the court shall appoint the broker or brokers and establish terms of the listing agreement.
If the parties do not agree on a broker or brokers, the court shall appoint a disinterested
real estate broker licensed in this state to offer the property for sale and shall establish
reasonable terms. The broker or brokers shall offer the property for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-6A-10.htm - 3K - Match Info - Similar pages
35-6-60
Section 35-6-60 Sale instead of partition - Notice of hearing; guardians ad litem; nonresidents
as parties. All parties in interest must have at least 10 days' notice of the time and place
set for the hearing of such application; and when infants or persons of unsound mind are parties,
and have no general guardians, guardians ad litem must be appointed to represent them; and
if any of the parties in interest are nonresidents, they may be made parties in the same manner,
and to the same extent as is done when property in the hands of an executor or administrator
is to be divided or distributed. (Code 1867, §3122; Code 1876, §3516; Code 1886, §3255;
Code 1896, §3180; Code 1907, §5224; Code 1923, §9324; Code 1940, T. 47, §212.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-6-60.htm - 1K - Match Info - Similar pages
11-50-270
Section 11-50-270 Completion of sale pursuant to final determination of commission or court;
effect of failure of seller to tender deed, etc., or of board to accept deed, pay purchase
price, etc. The owner shall have 30 days after a final determination by the Public Service
Commission or the courts to notify the waterworks board of its acceptance of such determination
and shall have a further period of 30 days to tender a good and sufficient deed of conveyance
to the waterworks board of the property required by the order of the commission or the court
to be purchased by placing such deed in escrow with the commission or the court, as the case
may be, and to comply with all other terms and conditions of the order or judgment. The waterworks
board shall have 60 days from the date of the deposit of the deed in escrow to accept or reject
such deed and, if it accepts, the waterworks board shall have a further period of 60 days
to pay to the owner the price determined as provided in this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50-270.htm - 2K - Match Info - Similar pages
|