Alabama HB401 increases the fee for recording mortgages and modifies the distribution of mortgage recording taxes.
Alabama HB401 increases the fee for recording certain mortgages, deeds of trust, and similar instruments. The bill modifies the distribution of mortgage recording taxes, allocating funds to the Alabama Housing Trust Fund, county treasuries, and the State Treasury. The probate judge receives five percent of the collected taxes. The bill also includes technical revisions to update existing code language.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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