Ala. Code § 27-37-9

Current through the 2024 Regular Session.

Section 27-37-9 - Valuation - Purchase money mortgages

Purchase money mortgages on real property shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or the unpaid balance of the debt secured by such mortgage, whichever is less.

Ala. Code § 27-37-9 (1975)

Acts 1971, No. 407, p. 707, §753.