§ 40-20-30 Definitions
§ 40-20-31 Levied; applicability
§ 40-20-32 Tax to be a lien; amount of tax
§ 40-20-33 When and by whom tax payable; effect of nonpayment
§ 40-20-34 Tax payable to probate judge; entries on instrument and record
§ 40-20-35 Tax to be in lieu of ad valorem taxes; exemption of nonproducing leasehold and other interests from ad valorem taxes
§ 40-20-36 How exemption obtained upon existing interests
§ 40-20-37 Fees of probate judge; disposition of remainder of tax

Terms Used In Alabama Code > Title 40 > Chapter 20 > Article 2 - Mineral Documentary Tax

  • 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
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • 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.
  • 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
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • 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.
  • Statute: A law passed by a legislature.
  • writing: includes typewriting and printing on paper. See Alabama Code 1-1-1