Sections
Division 1 In General 35-12-20 – 35-12-48
Division 2 Intangible Property 35-12-50 – 35-12-51
Article 2A Uniform Disposition of Unclaimed Property Act of 2004 35-12-70 – 35-12-96

Terms Used In Alabama Code > Title 35 > Chapter 12 > Article 2 - Uniform Disposition of Unclaimed Property Act

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • APPARENT OWNER: A person whose name appears on the records of a holder as the person entitled to property held, issued, or owing by the holder. See Alabama Code 35-12-71
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • asset: Property of a debtor, but the term does not include:

    a. See Alabama Code 8-9A-1

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Bequeath: To gift property by will.
  • board: The State Board of Agriculture and Industries. See Alabama Code 2-8-350
  • budget year: shall mean the fiscal year for which any particular budget is adopted and in which it is administered. See Alabama Code 11-43A-29
  • Business: includes every trade, occupation, and profession for profit. See Alabama Code 10A-8A-1.02
  • BUSINESS ASSOCIATION: A corporation, joint stock company, investment company, partnership, unincorporated association, joint venture, limited liability company, business trust, trust company, safe deposit company, financial organization, insurance company, mutual fund, utility, or other business entity consisting of one or more persons, whether or not for profit. See Alabama Code 35-12-71
  • circuit: means judicial circuit. See Alabama Code 1-1-1
  • claim: A right to payment, whether or not the right is reduced to judgment, liquidated, unliquidated, fixed, contingent, matured, unmatured, disputed, undisputed, legal, equitable, secured, or unsecured, and specifically shall include the nonpayment of child support pursuant to a court order. See Alabama Code 8-9A-1
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • Commercial or nongame fish: as used in this article shall be limited to those freshwater fish designated as such by the Department of Conservation and Natural Resources and all species of saltwater fish. See Alabama Code 9-11-170
  • commissioner: The Commissioner of Agriculture and Industries. See Alabama Code 2-8-350
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Constituent organization: means an organization that is party to a merger under this article. See Alabama Code 10A-8A-9.01
  • Constituent partnership: means a constituent organization that is a partnership. See Alabama Code 10A-8A-9.01
  • Contract: A legal written agreement that becomes binding when signed.
  • contribution: A tangible or intangible benefit that a person transfers to an entity in consideration for an ownership interest in the entity or otherwise in the person's capacity as an owner or a member. See Alabama Code 10A-1-1.03
  • conversion: A conversion, whether referred to as a conversion, domestication, or otherwise, means:

    (A) the continuance of a domestic entity as a foreign entity of any type;

    (B) the continuance of a foreign entity as a domestic entity of any type; or

    (C) the continuance of a domestic entity of one type as a domestic entity of another type. See Alabama Code 10A-1-1.03

  • CONVERTED ENTITY: An entity resulting from a conversion. See Alabama Code 10A-1-1.03
  • Converted organization: means the organization into which a converting organization converts pursuant to this article. See Alabama Code 10A-8A-9.01
  • CONVERTING ENTITY: An entity as the entity existed before the entity's conversion. See Alabama Code 10A-1-1.03
  • Converting organization: means an organization that converts into another organization pursuant to this article. See Alabama Code 10A-8A-9.01
  • Converting partnership: means a converting organization that is a partnership. See Alabama Code 10A-8A-9.01
  • Conviction: A judgement of guilt against a criminal defendant.
  • corporation: Includes a domestic or foreign business corporation, including a benefit corporation, as defined in Chapter 2A, a domestic or foreign nonprofit corporation as defined in Chapter 3, a domestic or foreign professional corporation as defined in Chapter 4, and those entities specified in Chapter 20 as corporate. See Alabama Code 10A-1-1.03
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • court: The designated court, and if none, the circuit court specifically set forth in this title, and if none, any other court having jurisdiction in a case. See Alabama Code 10A-1-1.03
  • creditor: A person who has a claim. See Alabama Code 8-9A-1
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • debt: Liability on a claim. See Alabama Code 8-9A-1
  • debtor: A person who is liable on a claim. See Alabama Code 8-9A-1
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • DESIGNATED COURT: The court or courts that are designated in the (i) certificate of incorporation or bylaws of a corporation as authorized by Chapter 2A, (ii) limited liability company agreement of a limited liability company formed pursuant to or governed by Chapter 5A, (iii) partnership agreement of a partnership formed pursuant to or governed by Chapter 8A, or (iv) limited partnership agreement of a limited partnership formed pursuant to or governed by Chapter 9A. See Alabama Code 10A-1-1.03
  • Devise: To gift property by will.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Disqualified person: means any person who is not a qualified person. See Alabama Code 10A-8A-1.02
  • domestic: With respect to an entity, means governed as to its internal affairs by this title. See Alabama Code 10A-1-1.03
  • domicile: The state of incorporation of a corporation and the state of the principal place of business of a holder other than a corporation. See Alabama Code 35-12-71
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • entity: A domestic or foreign organization. See Alabama Code 10A-1-1.03
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Executor: A male person named in a will to carry out the decedent
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • FILING ENTITY: A domestic entity that is a corporation, limited partnership, limited liability limited partnership, limited liability company, professional association, employee cooperative corporation, or real estate investment trust. See Alabama Code 10A-1-1.03
  • FILING INSTRUMENT: An instrument, document, or statement that is required or permitted by this title to be delivered for filing by or for an entity to a filing officer. See Alabama Code 10A-1-1.03
  • Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. Source: OCC
  • FINANCIAL ORGANIZATION: A savings and loan association, building and loan association, industrial loan organization, credit union, cooperative bank, bank, or banking organization. See Alabama Code 35-12-71
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Forbearance: A means of handling a delinquent loan. A
  • 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
  • foreign: With respect to an entity, means governed as to its internal affairs by the laws of a jurisdiction other than this state. See Alabama Code 10A-1-1.03
  • FOREIGN ENTITY: An entity governed as to its internal affairs by the laws of a jurisdiction other than this state. See Alabama Code 10A-1-1.03
  • FOREIGN FILING ENTITY: A foreign entity that registers or is required to register as a foreign entity under Article 7. See Alabama Code 10A-1-1.03
  • Foreign limited liability partnership: means a foreign partnership whose partners have limited liability for the debts, obligations, or other liabilities of the foreign partnership under a provision similar to Section 10A-8A-3. See Alabama Code 10A-8A-1.02
  • Foreign partnership: means a partnership governed by the laws of a jurisdiction other than this state which would be a partnership if governed by the laws of this state. See Alabama Code 10A-8A-1.02
  • Fraud: Intentional deception resulting in injury to another.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Grantor: The person who establishes a trust and places property into it.
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • holder: A person in possession of property belonging to another, or who is a trustee in case of a trust, obligated to hold for the account of, or deliver to, or pay to, the owner or apparent owner as applicable, property that is subject to this article. See Alabama Code 35-12-71
  • Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
  • includes: Is not a limiting term. See Alabama Code 8-9A-1
  • individual: A natural person and the estate of an incompetent or deceased natural person. See Alabama Code 10A-1-1.03
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • insider: Includes:

    a. See Alabama Code 8-9A-1

  • INSURANCE COMPANY: An association, corporation, or fraternal or mutual benefit organization, whether or not for profit, engaged in the business of providing life endowments, annuities, or insurance, including, but not limited to, accidental, burial, casualty, credit life, contract performance, dental, disability, fidelity, fire, health, hospitalization, illness, life, malpractice, marine, mortgage, surety, wage protection, and workers' compensation insurance. See Alabama Code 35-12-71
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Intestate: Dying without leaving a will.
  • JUDGE OF PROBATE: The judge of probate of the county in which an entity is required or permitted to deliver a filing instrument for filing pursuant to this title. See Alabama Code 10A-1-1.03
  • juries: include courts or judges in all cases when a jury trial is waived, or when the court or judge is authorized to ascertain and determine the facts as well as the law. See Alabama Code 1-1-1
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • law: Unless the context requires otherwise, both statutory and common law. See Alabama Code 10A-1-1.03
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • LICENSING AUTHORITY: The state court, state regulatory licensing board, or other like agency which has the power to issue a license or other legal authorization to render professional services. See Alabama Code 10A-1-1.03
  • lien: A charge against or an interest in property to secure payment of a debt or performance of an obligation, and includes a security interest created by agreement, a judicial lien obtained by legal or equitable process or proceedings, a common law lien, or a statutory lien. See Alabama Code 8-9A-1
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • LIMITED LIABILITY COMPANY: A limited liability company as defined in Chapter 5A. See Alabama Code 10A-1-1.03
  • LIMITED LIABILITY LIMITED PARTNERSHIP: A limited liability limited partnership as defined in Chapter 9A. See Alabama Code 10A-1-1.03
  • LIMITED LIABILITY PARTNERSHIP: A limited liability partnership as defined in Chapter 8A. See Alabama Code 10A-1-1.03
  • LIMITED PARTNERSHIP: A limited partnership as defined in Chapter 9A. See Alabama Code 10A-1-1.03
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • merger: The combination of one or more domestic entities with one or more domestic entities or foreign entities resulting in:

    (A) one or more surviving domestic entities or foreign entities;

    (B) the creation of one or more new domestic entities or foreign entities, or one or more surviving domestic entities or foreign entities; or

    (C) one or more surviving domestic entities or foreign entities and the creation of one or more new domestic entities or foreign entities. See Alabama Code 10A-1-1.03

  • mineral: Gas; oil; coal; other gaseous, liquid, and solid hydrocarbons; oil shale; cement material; sand and gravel; road material; building stone; chemical raw material; gemstone; fissionable and nonfissionable ores; colloidal and other clay; steam and other geothermal resource; or any other substance defined as a mineral by the law of this state. See Alabama Code 35-12-71
  • MINERAL PROCEEDS: Amounts payable for the extraction, production, or sale of minerals, or, upon the abandonment of those payments, all payments that become payable thereafter. See Alabama Code 35-12-71
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • month: means a calendar month. See Alabama Code 1-1-1
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • NONPROFIT CORPORATION: A domestic or foreign nonprofit corporation as defined in Chapter 3. See Alabama Code 10A-1-1.03
  • Not for profit activity: includes every undertaking not for profit. See Alabama Code 10A-8A-1.02
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • officer: The term includes every person authorized to enforce the game and fish laws of this state, and whenever the possession, use, importation, transportation, storage, sale, offering, or exposing for sale of game birds, animals, or fish is prohibited or restricted, the prohibition or restriction shall extend to and include every part of the game, bird, animal, or fish, and a violation as to each animal, bird, or fish, or part thereof, shall be a separate offense. See Alabama Code 9-11-1
  • Open-end credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or revolving credit.) Source: OCC
  • Organization: means a partnership, including a limited liability partnership; limited partnership, including a limited liability limited partnership; limited liability company; business trust; corporation; nonprofit corporation; professional corporation; or any other person having a governing statute. See Alabama Code 10A-8A-9.01
  • Organizational documents: means :

    (A)(i) for a partnership, its partnership agreement and, if applicable, its statement of partnership, statement of not for profit partnership, or statement of limited liability partnership; and (ii) for a foreign partnership, its partnership agreement and, if applicable, its statement of foreign limited liability partnership;

    (B) for a limited partnership or foreign limited partnership, its certificate of formation and partnership agreement, or comparable writings as provided in its governing statute;

    (C) for a limited liability company or foreign limited liability company, its certificate of formation and limited liability company agreement, or comparable writings as provided in its governing statute;

    (D) for a business or statutory trust or foreign business or statutory trust its agreement of trust and declaration of trust, or comparable writings as provided in its governing statute;

    (E) for a corporation for profit or foreign corporation for profit, its certificate of formation, bylaws, and other agreements among its shareholders that are authorized by its governing statute, or comparable writings as provided in its governing statute;

    (F) for a nonprofit corporation or foreign nonprofit corporation, its certificate of formation, bylaws, and other agreements that are authorized by its governing statute, or comparable writings as provided in its governing statute;

    (G) for a professional corporation or foreign professional corporation, its certificate of formation, bylaws, and other agreements among its shareholders that are authorized by its governing statute, or comparable writings as provided in its governing statute; and

    (H) for any other organization, the basic writings that create the organization and determine its internal governance and the relations among the persons that own it, have an interest in it, or are members of it. See Alabama Code 10A-8A-9.01

  • Oversight: Committee review of the activities of a Federal agency or program.
  • owner: A person who has a legal or equitable interest in property subject to this article or the person's legal representative. See Alabama Code 35-12-71
  • Partner: means a person that:

    (A) has become a partner in a partnership under Section 10A-8A-4. See Alabama Code 10A-8A-1.02

  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Partnership: means an entity that is formed under this chapter or that is governed by this chapter. See Alabama Code 10A-8A-1.02
  • Partnership agreement: means any agreement (whether referred to as a partnership agreement or otherwise), written, oral or implied, of the partners as to the business or not for profit activity of a partnership. See Alabama Code 10A-8A-1.02
  • Partnership at will: means a partnership in which the partners have not agreed to remain partners until the expiration of a definite term or the completion of a particular undertaking. See Alabama Code 10A-8A-1.02
  • PARTY TO THE MERGER: A domestic entity or foreign entity that under a plan of merger is combined by a merger. See Alabama Code 10A-1-1.03
  • person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
  • person: An individual, partnership, corporation, association, organization, government, or governmental subdivision or agency, business trust, estate, trust, or any other legal or commercial entity. See Alabama Code 8-9A-1
  • person: An individual, including the estate of an incompetent or deceased individual, or an entity, whether created by the laws of this state or another state or foreign country, including, without limitation, a general partnership, limited liability partnership, limited partnership, limited liability limited partnership, limited liability company, corporation, professional corporation, nonprofit corporation, professional association, trustee, personal representative, fiduciary, as defined in Section 19-3-150 or person performing in any similar capacity, business trust, estate, trust, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Alabama Code 10A-1-1.03
  • person: An individual, business association, financial organization, estate, trust, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Alabama Code 35-12-71
  • Person dissociated as a partner: means a person dissociated as a partner of a partnership. See Alabama Code 10A-8A-1.02
  • personal property: includes money, goods, chattels, things in action and evidence of debt, deeds and conveyances. See Alabama Code 1-1-1
  • Personal property: All property that is not real property.
  • preceding: means next before. See Alabama Code 1-1-1
  • President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
  • PRINCIPAL OFFICE: The office, in or out of this state, where the principal executive office, whether referred to as the principal executive office, chief executive office, or otherwise, of an entity is located. See Alabama Code 10A-1-1.03
  • Probate: Proving a will
  • PROFESSIONAL CORPORATION: A domestic or foreign professional corporation as defined in Chapter 4. See Alabama Code 10A-1-1.03
  • PROFESSIONAL SERVICE: Any type of service that may lawfully be performed only pursuant to a license issued by a state court, state regulatory licensing board, or other like agency pursuant to state laws. See Alabama Code 10A-1-1.03
  • property: Both real and personal property, whether tangible or intangible, and any interest in property whether legal or equitable and includes anything that may be the subject of ownership. See Alabama Code 8-9A-1
  • property: Includes all property, whether real, personal, or mixed, or tangible or intangible, or any right or interest therein. See Alabama Code 10A-1-1.03
  • property: Tangible property held in a safe deposit box or other safekeeping depository in this state, and fixed and certain interest in intangible property that is held, issued, or owed in the course of a holder's business, or by a government, governmental subdivision, agency, or instrumentality, and all income or increments therefrom. See Alabama Code 35-12-71
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • record: Information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Alabama Code 35-12-71
  • relative: An individual related by consanguinity within the third degree as determined by the common law, a spouse, or an individual related to a spouse within the third degree as so determined, and includes an individual in an adoptive relationship within the third degree. See Alabama Code 8-9A-1
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • rules: Rules necessary to carry out this article adopted pursuant to the Administrative Procedure Act. See Alabama Code 35-12-71
  • Service of process: The service of writs or summonses to the appropriate party.
  • Spearing: as used in this article shall be limited to the use of a spear or similar instrument that is held in the hand of the person using same and the use of a weapon, other than a firearm, which propels or forces a projectile, arrow or similar device therefrom to which a wire, rope, line, cord or other means of recovering the propelled projectile, arrow or similar device is attached and is secured to the weapon or to the person using the weapon. See Alabama Code 9-11-170
  • 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
  • state: Includes, when referring to a part of the United States, a state or commonwealth, and its agencies and governmental subdivisions, and a territory or possession, and its agencies and governmental subdivisions, of the United States. See Alabama Code 10A-1-1.03
  • state: A state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Alabama Code 35-12-71
  • Statement: means a statement of partnership under Section 10A-8A-2. See Alabama Code 10A-8A-1.02
  • Statute: A law passed by a legislature.
  • Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Subpoena: A command to a witness to appear and give testimony.
  • Surviving organization: means an organization into which one or more other organizations are merged under this article, whether the organization pre-existed the merger or was created pursuant to the merger. See Alabama Code 10A-8A-9.01
  • Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
  • Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • transfer: Every mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with an asset or an interest in an asset, and includes payment of money, release, lease, and creation of a lien or other encumbrance. See Alabama Code 8-9A-1
  • Transfer: means an assignment, conveyance, deed, bill of sale, lease, mortgage, security interest, encumbrance, gift, or transfer by operation of law. See Alabama Code 10A-8A-1.02
  • Transferable interest: means a partner's right to receive distributions from a partnership. See Alabama Code 10A-8A-1.02
  • Transferee: means a person to which all or part of a transferable interest has been transferred, whether or not the transferor is a partner. See Alabama Code 10A-8A-1.02
  • treasurer: The Treasurer of the State of Alabama, or the designee of the Treasurer. See Alabama Code 35-12-71
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
  • utility: Any person who owns or operates, for public use, any plant, equipment, real property, franchise, or license for the transmission of communications or the production, storage, transmission, sale, delivery, or furnishing of electricity, water, steam, or gas. See Alabama Code 35-12-71
  • VALID LIEN: A lien that is effective against the holder of a judicial lien subsequently obtained by legal or equitable process or proceedings. See Alabama Code 8-9A-1
  • Venue: The geographical location in which a case is tried.
  • writing: includes typewriting and printing on paper. See Alabama Code 1-1-1