Alabama Assignment of Mortgage
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Assignment of Mortgage for Real Estate Located in Alabama
This is a recorded document used to assign a previously recorded mortgage to another party, this is typically done when a mortgage has been sold or through administration of estates. Included is a "Notice of Assignment of Mortgage" form, by law the current borrowers must be notified of the mortgage assignment.
Title 43 - WILLS AND DECEDENTS' ESTATES.
Chapter 2 - ADMINISTRATION OF ESTATES.
Article 16 - Sale of Personal Property.
Section 43-2-420 - Assignment or transfer of mortgages, notes or accounts.
Executors and administrators may assign and transfer by endorsement, without recourse or warranty, any mortgages, notes or accounts belonging to a decedent, provided he receives the full amount due thereon, and provided said mortgages, notes or accounts shall have been entered on the inventory returned to the court.
For use in Alabama only.