Code of Alabama - Title 35: Property - Chapter 10 - Mortgages

• Article 1 Powers Contained in Mortgages.
• Section 35-10-1 Power of sale constitutes part of security; by whom executed; effect of conveyance; index of foreclosure deeds
  Where a power to sell lands is given to the grantee in any mortgage, or other conveyance intended to secure the payment of money, the...
• Section 35-10-2 Sale under power where instrument silent as to place or terms of 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...
• Section 35-10-3 Foreclosure when instrument contains no power of sale
  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...
• Section 35-10-4 Sale of lands situated in two or more counties
  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...
• Section 35-10-5 Foreclosure deed conveys legal title
  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...
• Section 35-10-6 Additional satisfaction permitted under continuing power of sale
  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...
• Section 35-10-7 Sale to be held in county where property situated
  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...
• Section 35-10-8 How notice of sale given
  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...
• Section 35-10-9 Sales contrary to article null and void
  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...
• Section 35-10-10 Sections 35-10-7 through 35-10-9 not applicable to mortgages or deeds of trust executed before September 29, 1923
  The provisions of sections 35-10-7 through 35-10-9 shall not apply to mortgages or deeds of trust executed before September 29, 1923.
• Article 1A Foreclosure by Power of Sale for Mortgages Executed After December 31, 1988.
• 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...
• Section 35-10-12 Execution of foreclosure by power of sale; effect; indexing of deeds
  Where a power to sell lands is given in any mortgage, the power is part of the security and may be executed by any person,...
• Section 35-10-13 Notice of sale; minimum standards
  Notice of said sale shall be given in the county where said land is located. Notice of all sales under this article shall be given...
• Section 35-10-14 Place and time for conducting foreclosure by power of sale
  The power to sell lands under this article must be exercised at the appropriate courthouse door considered the front or main door to the courthouse,...
• 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...
• Section 35-10-16 Law governing applicability
  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...
• Article 2 Satisfaction of Mortgage Liens.
• Section 35-10-20 When indebtedness presumed to have been paid
  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...
• Section 35-10-21 When payment required to be entered in record
  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...
• Section 35-10-22 Partial payments - When entered on margin of record
  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...
• Section 35-10-23 Partial payments - Notices or demands to enter partial payments or 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...
• Section 35-10-24 Partial payments - Entry by execution and delivery of separate 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...
• 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...
• Section 35-10-26 Title revested upon payment of debt
  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...
• Section 35-10-27 Entry of full payment or satisfaction in record - Generally
  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...
• Section 35-10-28 Entry of full payment or satisfaction in record - Satisfaction by one of 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...
• Section 35-10-29 Entry of full payment or satisfaction in record - Vendor's or other lien 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...
• Section 35-10-30 Penalty
  (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...
• Article 3 Deeds in Lieu of Foreclosure.
• Section 35-10-50 Definitions
  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....
• Section 35-10-51 Effect of deed in lieu of foreclosure
  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...
• Article 4 Foreclosure on Surviving Spouse or Estate of Mortgagor Dying Overseas While on Military Service Active Duty.
• Section 35-10-70 Definitions
  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...
• Section 35-10-71 Initiation of foreclosure proceedings against surviving spouse or 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...
• Article 5 Alabama Residential Mortgage Satisfaction Act.
• Section 35-10-90 Short title; application; definitions
  (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...
• Section 35-10-91 Payoff statement; notice
  (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...
• Section 35-10-92 Submission of a satisfaction of a security instrument for recording
  (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...
• Section 35-10-93 Service as a satisfaction agent
  (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...
• Section 35-10-94 Notification by satisfaction agent to secured creditor
  (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...
• Section 35-10-95 Conditions for satisfaction agent to sign and submit affidavit for 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...
• Section 35-10-96 Affidavit of satisfaction requirements
  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...
• Section 35-10-97 Effect of recording affidavit
  (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...
• Section 35-10-98 Liability
  (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...

Last modified: May 3, 2021