The sale of any part of the property conveyed by mortgage, either under power of sale contained in the mortgage, or by foreclosure, shall operate as a foreclosure of the mortgage only as to the property sold, and if the mortgage indebtedness is not thereby satisfied in full, the other property contained in the mortgage continues as security for the mortgage debt and there may be a further foreclosure of the mortgage, either by sale under power of sale or by foreclosure. Every power of sale contained in the mortgages hereafter executed shall, unless otherwise expressly provided therein, be held to give a continuing power of sale authorizing the mortgagee or his assignee after the law day of the mortgage to sell the mortgaged property from time to time in separate lots or parcels as it comes into his possession.
Structure Code of Alabama
Article 1 - Powers Contained in Mortgages.
Section 35-10-2 - Sale Under Power Where Instrument Silent as to Place or Terms of Sale.
Section 35-10-3 - Foreclosure When Instrument Contains No Power of Sale.
Section 35-10-4 - Sale of Lands Situated in Two or More Counties.
Section 35-10-5 - Foreclosure Deed Conveys Legal Title.
Section 35-10-6 - Additional Satisfaction Permitted Under Continuing Power of Sale.
Section 35-10-7 - Sale to Be Held in County Where Property Situated.
Section 35-10-8 - How Notice of Sale Given.