Alabama § 27-37-9 Valuation - Purchase Money Mortgages

Alabama Statutes

§ 27-37-9 — Valuation - Purchase Money Mortgages

Alabama·Title 27 Insurance·Ch. 37 Assets

Purchase money mortgages on real property shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or the unpaid balance of the debt secured by such mortgage, whichever is less.

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Legislative History

(Acts 1971, No. 407, p. 707, §753.)

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