(a) A lienholder may assign, absolutely or otherwise, his or her security interest in the manufactured home to a person other than the owner without affecting the interest of the owner or the validity of such security interest, but any person without notice of the assignment is protected in dealing with the lienholder of the security interest and the lienholder as the holder of the security interest and the lienholder remains liable for any obligations as lienholder until the assignee is named as lienholder on the certificate in the manner prescribed by the department.
(b) The department shall file each assignment received by the department with the required fee, and note the assignee as lienholder upon the record of notices of security interests maintained by the department.
Structure Code of Alabama
Title 32 - Motor Vehicles and Traffic.
Chapter 20 - Manufactured Home Certificate of Title Act.
Section 32-20-40 - Applicability of Chapter.
Section 32-20-41 - Perfection of Security Interest.
Section 32-20-42 - Requirements Upon Creation of Security Interest.
Section 32-20-43 - Assignment.
Section 32-20-44 - Satisfaction.
Section 32-20-45 - Disclosure of Information.
Section 32-20-46 - Construction With Other Laws.
Section 32-20-47 - Electronic Transmissions.
Section 32-20-48 - Filing of Notice; Maintenance of Records.