Alabama § 8-1-171 Conveyance of Real Estate by Insane Person Not Void If Made in Good Faith

Alabama Statutes

§ 8-1-171 — Conveyance of Real Estate by Insane Person Not Void If Made in Good Faith

Alabama·Title 8 Commercial Law and Consumer Protection·Ch. 1 Contracts·Art. 9 Insane Persons

(a)Whenever any person shall purchase in good faith and for a valuable consideration real estate from an insane person without notice of such insanity, such contract and conveyance shall not be void; but such insane person may recover from the vendee, or those claiming under him, the difference between the market value of such real estate at the time of the sale and the price paid therefor, with interest thereon, and shall have a lien on such real estate to secure the same.

(b)Purchasers from such vendee without notice of the insanity of the original vendor shall be protected in like manner and have the benefits of this section.

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(a) Whenever any person shall purchase in good faith and for a valuable consideration real estate from an insane person without notice of such insanity, such contract and conveyance shall not be void; but such insane person may recover from the vendee, or those claiming under him, the difference between the market value of such real estate at the time of the sale and the price paid therefor, with interest thereon, and shall have a lien on such real estate to secure the same.
(b) Purchasers from such vendee without notice of the insanity of the original vendor shall be protected in like manner and have the benefits of this section.

Alabama § 8-1-171 (Conveyance of Real Estate by Insane Person Not Void If Made in Good Faith) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.