Title 35 — Title 35

Mortgages executed prior to January 1, 1989, shall be governed by article 1 of chapter 10, Title 35. This law shall apply only to mortgages executed after December 31, 1988. History: (Acts 1988, 1st Ex. Sess., No. 88-906, p. 479, §6.)

Sale. If a deed of trust or mortgage, with power of sale, is silent as to the place or terms of sale, or as to the character or mode of notice, a sale may be made at the courthouse door of the county wherein the land is situated, after condition broken, for cash to the highest bi…

As to third parties without actual notice or knowledge to the contrary, the indebtedness secured by any recorded mortgage, or reservation of vendor’s lien, either in deed of conveyance or note, bond or contract of purchase covering real estate 20 years past due according to the o…

The owner or holder of any recorded lien other than those specified in section 35- 10-22, who has received payment in full or partial payments of the debt so secured by the recorded lien, must, upon request in writing, enter on the margin of the record of such recorded lien, the …

A mortgagee or the assignee or transferee of a debt secured by mortgage, or trustee or his assignee or transferee or cestui que trust of a deed of trust to secure a debt, who has received partial payment, if the mortgage or deed of trust is of record, must, upon request in writin…

Satisfaction. All notices or demands to enter partial payments or satisfaction of balance of debt secured as is provided in section 35-10-21 shall be in writing and signed by the party or parties who are entitled to have the entries of record made, or by their personal representa…

Instrument. (a) Any person required by the provisions of this article, and more particularly Sections 35-10-21 through 35-10-24 thereof, to make any entry of partial payment on the margin of the record may fully discharge his obligation to make such entry by executing a separate …

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 o…

The payment or satisfaction of the real property mortgage debt divests the title passing by the mortgage. “Payment or satisfaction of the real property mortgage debt” shall not occur until there is no outstanding indebtedness or other obligation secured by the mortgage, and no co…

If a mortgage or deed of trust which is of record has been fully paid or satisfied, the mortgagee or transferee or assignee of the mortgage, or trustee or cestui que trust of the deed of trust, who has received payment or satisfaction, must on request in writing of the mortgagor,…

Several Joint Mortgagees, Etc. The satisfaction in full by any one of several joint mortgagees, or his successors or assigns, on the margin of the record, and properly attested by the probate judge, or his chief clerk, or the filing of a release by such party properly notarized, …

Reserved in Conveyance. When a vendor’s or other lien is reserved in any conveyance, which is of record, of real or personal property to secure the payment of the purchase money recited in such conveyance, upon the payment in full of such purchase money, the grantor, or his execu…

If no power of sale is contained in a mortgage or deed of trust, the grantee or any assignee thereof, at his option, after condition broken, may foreclose same either in a court having jurisdiction of the subject matter, or by selling for cash at the courthouse door of the county…

(a) If, for 30 days after such request, the mortgagee or assignee or transferee, trustee or cestui que trust, fails to make any entry required by this article he forfeits to the party making the request $200.00 unless there is pending, or there is instituted, an action within tha…

Where the lands embraced in any mortgage or deed of trust are situated in two or more counties and no provision is made in said mortgage for the sale, on condition broken, of all of said lands or any portion thereof, then, at the option of the grantee or of any assignee or owner …

In the case of a foreclosure under Sections 35-10-2 through 35-10-4, the foreclosure deed executed by the mortgagee or his transferee, or the owner of the debt secured thereby, or his agent or attorney or personal representative, shall operate to convey the legal title to the lan…

Unless the context otherwise requires, the words defined in this section shall have the following meanings in this article. (1) DEED IN LIEU OF FORECLOSURE. Any instrument, however denominated, whereby a mortgagor transfers to a mortgagee the mortgagor’s rights in mortgaged prope…

A deed in lieu of foreclosure: (1) Transfers to the mortgagee all right, title, and interest of the mortgagor in the mortgaged property, including, but not limited to, all rights of redemption, statutory or equitable, unless expressly otherwise provided therein; (2) Does not effe…

The sale of any part of the property conveyed by mortgage, either under power of sale contained in the mortgage, or by 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 …

All sales of real estate, under powers of sale contained in mortgages and deeds of trust shall be held in the county where all or part of said real estate is situated. History: (Acts 1923, No. 494, p. 658; Code 1923, §9016; Code 1940, T. 47, §170.)

As used in this chapter, the following terms have the following meanings: (1) ACTIVE DUTY. Full-time duty in the active military service of the United States. Active duty includes full-time training duty, annual training duty, and attendance, while in the active military service,…

Estate of Certain Mortgagors. (a) A mortgagee shall not initiate a foreclosure proceeding pursuant to this chapter against the surviving spouse or the estate of a mortgagor who is a service member who dies while deployed overseas on active duty military service for at least 180 d…

Notice of said sale shall be given in the manner provided in such mortgage or deed of trust or in this Code in the county where the mortgagor resides and the land, or a part thereof, is located; but, if said mortgagor does not reside in the county where the land or any part there…

All sales of real estate, made under powers contained in mortgages or deeds of trust contrary to the provisions of this article, shall be null and void, notwithstanding any agreement or stipulation to the contrary. History: (Code 1923, §9018; Code 1940, T. 47, §172.)

(a) This article shall be known as the Alabama Residential Mortgage Satisfaction Act. This article applies only to mortgages securing residential real property located in this state which is used primarily for personal, family, or household purposes and is improved by one to four…

(a) A person liable for payment or performance of the obligation secured by the real property described in a security instrument who makes proper notice pursuant to this section shall be entitled to receive a payoff statement. (b) Proper notice must contain all of the following: …

(a) A secured creditor shall submit for recording a satisfaction of a security instrument within 30 days after the creditor receives full payment and performance of the secured obligation, and the secured creditor has no obligation to make advances, incur obligations, or otherwis…

(a) Only a title insurance company or an attorney licensed in this state acting as the agent of and for a title insurance company pursuant to a certificate of authority and within the scope of his or her agency agreement with a title insurance company may serve as a satisfaction …

(a) If a secured creditor has not submitted for recording a satisfaction of a security instrument within the time set forth in Section 35-10-92 after full and complete payment of all indebtedness secured by the security instrument, a satisfaction agent acting for and with authori…

Recording. (a) Subject to subsections (b) and (c), a satisfaction agent may sign and submit for recording an affidavit of satisfaction of a security instrument complying with this article if either of the following occurs: (1) There does not appear of record a satisfaction of a s…

An affidavit of satisfaction of a security instrument must do all of the following: (1) Identify the original parties to the security instrument, the secured creditor, and the recording data for the security instrument. (2) State the basis upon which the person signing the affida…

(a) Upon recording, an affidavit complying with the requirements of this article constitutes a termination of the security interest described in the affidavit. (b) The recording of an affidavit of satisfaction of a security instrument does not extinguish, offset, or otherwise aff…

(a) Except as otherwise provided in subsection (b), a satisfaction agent or any other person who executes an affidavit of satisfaction of a security instrument erroneously or as a result of negligence or non-compliance with this article is liable to the secured creditor for any a…

This chapter may be referred to as the “Asset-Backed Securities Facilitation Act.” It is intended by the Legislature that the term “securitization transaction” be construed broadly. History: (Act 2001-779, p. 584, §1.)

(a) Notwithstanding any other provision of law including, but not limited to, Section 7-9-506 and Section 7-9A-623, to the extent set forth in the transaction documents relating to a securitization transaction: (1) Any property, assets, or rights purported to be transferred, in w…

Any act which becomes effective after September 12, 2001, shall not be construed to amend or repeal any provision of this chapter unless the subsequent act specifically references this chapter and states that this chapter is repealed or states the manner in which this chapter is …

The statutory modes provided in this chapter for the enforcement of liens are not the exclusive modes of enforcing such liens, but are cumulative merely. Any lien may be enforced in the manner provided by statute, if so provided, or by attachment for enforcing liens, or by any si…

Any blacksmith, woodworkman, or other mechanic who contributes his labor and material, or either, to the production, manufacture, or repair of any vehicle, implement, machine, or article of any kind, shall have a lien thereon in the hands of any person for whom such vehicle, impl…

Any person entitled thereto may enforce such lien in any court of competent jurisdiction, by attachment issued by any officer authorized to issue such writs, upon executing bond as in other cases of attachment, and upon making affidavit that the attachment is not sued out for the…

(a) Persons having liens under the provisions of this division, on the same property, may join in the same action for the enforcement of their respective liens; and when there is such joinder, the court or jury trying the action must ascertain the amount due to each of the plaint…

Keepers of hotels, inns, boarding houses, and restaurants shall have a lien on the goods and personal baggage of their guests and boarders to secure the payment of any money due from them for board and lodging. History: (Code 1907, §4827; Code 1923, §8933; Code 1940, T. 33, §29.)…

The lien of keepers of hotels, inns, boarding houses, and restaurants on the goods and personal baggage of their guests and boarders may be enforced by a seizure and sale of such goods and baggage in the manner provided by law. If the charges, when due, are not paid within 10 day…

Every jeweler, watchmaker, and silversmith who shall alter, repair, or do any work on any article of personal property at the request of the owner or legal possessor of said property shall have a lien upon and may retain possession of any such article until the charges for such a…

If such debt remains unpaid for 12 months or more, then the jeweler, watchmaker, or silversmith may sell such article at private or public sale after 10 days’ notice and the proceeds, after first paying the expenses of the sale shall be applied on the payment of the debt, the bal…

Every person, firm, or corporation engaged in the business of laundering, cleaning, pressing, and mending or otherwise renovating wearing apparel, household linens, and articles of like kind, including hats and shoes, at the request of the owner or legal possessor of said propert…

If such debt remains unpaid for three months or more, the party rendering such service may sell such article at private or public sale and the proceeds, after first paying the expenses of the sale shall be applied on the payment of the debt, the balance, if any to be held for the…

Any keeper, owner or proprietor of a livery stable, or other place for feeding and caring for stock for pay, shall have a lien on all stock kept and fed by him, for the payment of his charges, for keeping and feeding such stock, and he shall have the right to retain the stock, or…

If the charges when due are not paid within 10 days after demand therefor, such keeper, owner, or proprietor is authorized, on giving 10 days’ notice of the time and place of such sale, by advertisement in some newspaper published in the county in which the stable is located, onc…

One who has a lien inferior to another, upon the same property, has a right: (1) To redeem the property in the same manner as its owner might, from the superior lien; and (2) To be subrogated to all the benefits of the superior lien, when necessary for the protection of his inter…

Owners of land, or their assignees, shall have a lien upon timber sold therefrom for purposes of rafting, shipping, or manufacture, for the stipulated price or value thereof, commonly known as stumpage. History: (Code 1896, §2780; Code 1907, §4814; Code 1923, §8906; Code 1940, T.…