Code of Alabama
Division 2 - Recordation Necessary as to Purchasers, Mortgagees, and Judgment Creditors.
Section 35-4-95 - Effect of Loans of Personal Property Not in Writing.

All loans of personal property, not in writing, vest an absolute estate in the person in possession under such loan, as to purchasers and creditors of such person, after three years from the commencement of such loan, unless within that time the lender commences a civil action, in good faith, for the recovery of the property.