{"data":{"id":"us-al/ala.-code-35-10-50","jurisdiction":"us-al","citation":"Ala. Code § 35-10-50","heading":"Definitions.","body":"Unless the context otherwise requires, the words defined in this section shall have the following meanings in this article.\n(1) DEED IN LIEU OF FORECLOSURE. Any instrument, however denominated, whereby a mortgagor transfers to a mortgagee the mortgagor’s rights in mortgaged property.\n(2) MORTGAGE. A mortgage, deed of trust, or similar security instrument on real property, or instrument creating a vendor’s lien on real property, securing the payment of money.\n(3) MORTGAGOR. An owner of an interest in mortgaged property.\n(4) MORTGAGEE. The owner of the debt secured by a mortgage.\n(5) MORTGAGED PROPERTY. Any real property or interest therein that is subject to a mortgage.\n(6) EQUITY OF REDEMPTION. The interest the mortgagor has in the mortgaged property.","path":["Title 35 Property.","Chapter 10 Mortgages.","Article 3 Deeds in Lieu of Foreclosure."],"source_url":"https://alison.legislature.state.al.us/code-of-alabama?section=35-10-50","current_through":"Act 2026-611","vintage":"","retrieved_at":"2026-09-03T14:01:51Z","sha256":"fb9b6224f7a6e847cb26e5cc837ac62945066ed31417cbb48d80707015cca32e","source_id":"us-al","stale":false,"prev":"us-al/ala.-code-35-10-30","next":"us-al/ala.-code-35-10-51"},"notice":"GroundRules: Original legal text. Not legal advice."}