This Postnuptial Property Agreement is made with the intent to define and specify the respective and collective rights of the parties in the separate and joint property of the parties. The parties acknowledge that they were represented by counsel during the negotiations of the agreement and the legal consequences of the agreement have been fully explained.
Alabama Property Laws
State:
Alabama
Control #:
AL-01713-AZ
Format:
Word;
Rich Text
Instant download
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FAQ
III. All agricultural, forest, and single-family owner occupied residential property, including owner occupied residential manufactured homes located on land owned by the manufactured home owner, and historic building and sites. 10% IV.
Assessed Value fixed by Alabama Constitution Amendment 373 of the Constitution provides that all real and taxable personal property will be assessed at 20% of its fair market value. The combined state and local millage rate would then be applied to the assessed value.
If you are over 65 years of age, or permanent and totally disabled (regardless of age), or blind (regardless of age), you are exempt from the state portion of property tax. County taxes may still be due. Please contact your local taxing official to claim your homestead exemption.
You may redeem your property within 3 years of sale by paying all taxes, interest, fees, and penalties at the rate of 12% per annum. Yes. You may redeem your property within 3 years of sale by paying all taxes, interest, fees, and penalties at the rate of 12% per annum.
Your Alabama taxes are calculated using your property's assessed value. This is determined by multiplying the appraised value by the corresponding property classification, which is also known as the assessment rate.