Alabama § 7-9A-905 - Effect of Assignment; When Assignment Effective.
Full text of Alabama Code of Alabama § 7-9A-905 — Effect of Assignment; When Assignment Effective., with citation guidance and answers to common questions.
§ 7-9A-905. Effect of Assignment; When Assignment Effective.
(a) An assignee obtains the rights, title, and interests of the assignor in the assigned assets.
(b) Unless the assignor is an individual, an assignee obtains the rights, title, and interests of the assignor in assets acquired after the assignment.
(c) Except as provided in Section 7-9A-910(b)(12), an assignee takes each assigned asset subject to an existing interest in the asset held by another person.
(d) An assignee holds the assigned assets subject to the assignee’s duties under Section 7-9A-909.
(e) An assignment is subject to other law under which the assignment may be fraudulent or otherwise voidable.
(f) The effective date of the assignment agreement is the date the assignment agreement is signed by the last party to the assignment agreement which is required to sign the assignment agreement unless a later date is identified in the assignment agreement as the effective date.
Frequently Asked Questions About Alabama § 7-9A-905
What does Code of Alabama § 7-9A-905 cover?
Section 7-9A-905 ("Effect of Assignment; When Assignment Effective.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 7-9A-905?
A common citation format is "Code of Alabama § 7-9A-905" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 7-9A-905 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.