Alabama Code 40-22-9. Tax upon recording transfer of instrument recorded by exempt institution – Debt secured by instrument so transferred exempt from ad valorem taxes
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Terms Used In Alabama Code 40-22-9
- 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
If the recording privilege tax imposed by Sections 40-22-6 through 40-22-11 of this title or by Section 40-22-2 is paid, the debt secured by the instrument so transferred shall thereafter be exempt from any ad valorem tax, either state, county, or municipal.