Purchase money mortgages on real property shall be valued in an amount not exceeding the acquisition cost of the real property covered thereby or the unpaid balance of the debt secured by such mortgage, whichever is less.
Structure Code of Alabama
Section 27-37-1 - Assets - Generally.
Section 27-37-2 - Assets - Exclusions.
Section 27-37-3 - Assets and Liabilities as Deductions.
Section 27-37-4 - Disallowance of Assets or Credits for Deception.
Section 27-37-5 - Valuation - Bonds and Other Evidences of Debt.
Section 27-37-6 - Valuation - Other Securities; Preferred or Guaranteed Stocks or Shares.
Section 27-37-8 - Valuation - Funeral Supplies and Equipment.