Alabama Code 11-40-68. Foreclosure sale; form of deed
Terms Used In Alabama Code 11-40-68
- circuit: means judicial circuit. See Alabama Code 1-1-1
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- following: means next after. See Alabama Code 1-1-1
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Grantor: The person who establishes a trust and places property into it.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Probate: Proving a will
- property: includes both real and personal property. See Alabama Code 1-1-1
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- real property: includes lands, tenements and hereditaments. See Alabama Code 1-1-1
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
When recorded please return to: Cross-reference:
_________________________ Deed Book ____, Page
_________________________ _______ County, Alabama Records
STATE OF ALABAMA
COUNTY OF __________
JUDICIAL IN REM FORECLOSURE DEED
This indenture (the “deed”) made this _____ day of _____, _____, by and between _____, a _____ (“grantor”) and _____, a _____ (“grantee”).
WITNESSETH
WHEREAS, on the _____ day of _____, _____, during the legal hours of sale, grantor did expose for sale at public outcry to the highest bidder for cash before the courthouse door in _____ County, Alabama, the property (as hereinafter defined) at which sale grantee was the highest and best bidder for the sum of $_____ and the property was then and there sold to grantee for the sum. The sale was made by grantor pursuant to and by virtue of the power and authority granted to it in that certain order of the court granted _____, _____, Case No. _____, Circuit Court of _____ County, Alabama, (the “order”). Said sale was made after advertising the time, place, and terms thereof in the _____, published in _____, Alabama, in the aforesaid county, and being the publication in which the [Class 2 municipality’s] advertisements for the county are now published, once a week for three consecutive weeks prior to the sale on the _____, _____, _____, and _____ of _____, _____, and the advertisement in all respects complied with the requirements of Section _____ of the Code of Alabama 1975. Notice of the time, place, and terms of the sale of the property was given pursuant to Section _____ , Code of Alabama 1975. Sale was made for the purpose of paying the municipal code lien(s) owed to _____, the interest and penalties on the indebtedness, the expenses of the sale including attorneys’ fees, all of which were mature and payable because of failure of the owner to pay the amount owed and reflected in the municipal code lien.
NOW, THEREFORE, grantor, acting under and by virtue of the order and pursuant to Section _____, Code of Alabama 1975, for and in consideration of the facts hereinbefore recited, has bargained, sold, and conveyed and does hereby bargain, sell, and convey unto grantee, its successors and assigns, the following described property (herein referred to as the “property”); to wit:
All that tract or parcel of land lying and being in Land Lot _____ of the _____ District, _____ County, Alabama, and being more particularly described on Exhibit “A” attached hereto and by this reference made a party hereof.
This deed is given subject to all restrictions, easements, rights-of-way, declarations, and covenants, if any, to which the deed is junior and inferior in terms of priority.
TO HAVE AND TO HOLD, the property unto grantee, its successors and assigns in fee simple.
IN TESTIMONY WHEREOF, I have hereunto set my hand and seal, this ______ day of _____________________, 20_____.
____________________________
Judge of the Circuit Court of ______ County
THE STATE OF ALABAMA,
__________________________ COUNTY.
I, _______________________________, a ____________________ in and for the County, in the State of Alabama, hereby certify that _________________________ whose name as Judge of the Circuit Court of ________ County is signed to the foregoing conveyance and who is known to me, acknowledged before me, on this day, that, being informed of the contents of this conveyance, he or she, in his or her capacity as Judge of the Circuit Court of ___________ County, executed the same voluntarily, on this day.
Given under my hand, this _______ day of _________________________, 20______.
_____________________
EXHIBIT
Description of the Property
Together with all right, title, and interest running with the above-described property but not taxed under a separate tax reference number as delineated on the tax maps of the petitioner for the year(s) for the municipal code lien being foreclosed.