Alabama Code 8-9-1. Mortgage of personalty
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Terms Used In Alabama Code 8-9-1
- 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.
- writing: includes typewriting and printing on paper. See Alabama Code 1-1-1
Except as may be otherwise provided by Title 7 a mortgage of or security interest in personal property is not valid unless made in writing and subscribed by the mortgagor or debtor.