Terms Used In Alabama Code > Title 35 > Chapter 4 > Article 4 - Lis Pendens

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
• Probate: Proving a will
• 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
• Statute: A law passed by a legislature.
• United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.