2014 Code of Alabama
Title 35 - PROPERTY.
Chapter 10 - MORTGAGES.
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 with this article if either of the following occurs:
(1) There does not appear of record a satisfaction of a security instrument within 30 days after the receipt by the secured creditor of the notification.
(2) The secured creditor authorizes the satisfaction agent to do so.
(b) A satisfaction agent may not sign and submit for recording an affidavit of satisfaction of a security instrument if it has received a notification stating that the secured obligation remains unsatisfied or information that the security instrument has been assigned.
(c) If a satisfaction agent receives information that the security instrument has been assigned, the satisfaction agent may not submit for recording an affidavit of satisfaction of the security instrument without giving a notification of intent to submit for recording an affidavit of satisfaction to the assignee.
(Act 2012-278, p. 554, §6.)Disclaimer: These codes may not be the most recent version. Alabama may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
