Terms Used In Alabama Code > Title 8 > Chapter 9A
- 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.
- 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
- 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.
- creditor: A person who has a claim. See Alabama Code 8-9A-1
- 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
- Fiduciary: A trustee, executor, or administrator.
- includes: Is not a limiting term. See Alabama Code 8-9A-1
- insider: Includes:
a. See Alabama Code 8-9A-1
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- 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
- writing: includes typewriting and printing on paper. See Alabama Code 1-1-1