Alabama § 7-9A-906 - Filing, Recording, and Title Transfer Requirements.

§ 7-9A-906. Filing, Recording, and Title Transfer Requirements.

(a) In this section, “financing statement” has the meaning in Section 7-9A-102(a)(39).

(b) An assignee of a legal or equitable interest in personal property may file a financing statement in the filing office of:

(1) This state, established for purposes of Section 7-9A-501(a)(2);

(2) Any other state in which:

a. The assignor would be located under Section 7-9A-307 if the assignor were a debtor for the purpose of that section; or

b. An asset of the assignment estate may be located.

(c) A financing statement filed under subsection (b) must indicate that the financing statement is filed in connection with an assignment.

(d) When filing a financing statement under subsection (b), the assignee must:

(1) Attach a copy of the assignment agreement to each financing statement filed; or

(2) State on the financing statement that a copy of the assignment agreement is available on request to the assignee.

(e) A financing statement filed under subsection (b) may:

(1) Designate the assignor as “debtor” and the assignee as “secured party”; or

(2) Use the terms “assignor” and “assignee” or words of similar import.

(f) The filing of a financing statement under subsection (b) is not itself a factor in determining whether an asset secures an obligation. The rights of the assignee under the assignment are not affected if the assignee does not file a financing statement under subsection (b).

(g) An assignee of an estate that includes a legal or equitable interest in real property shall record the assignment of the interest or notice of the assignment under the real estate recording law of the jurisdiction where the property is located.

(h) An assignee shall comply with other law governing the transfer of title to an asset.

(i) By signing an assignment agreement, the assignor authorizes the assignee to take the actions required by this section.