Alabama Code > Title 35 > Chapter 4 > Article 15 – Conveyances of Standing Timber
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Terms Used In Alabama Code > Title 35 > Chapter 4 > Article 15 - Conveyances of Standing Timber
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Grantor: The person who establishes a trust and places property into it.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.