reglab/housing_qa huggingface dataset:
AL Code § 19-3-25 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-25 - Appointment and Duties of Appraisers.

Section 19-3-25Appointment and duties of appraisers. On the filing of such inventory, the register or clerk must indorse upon each of such copies the fact and date of such filing and must appoint three competent and disinterested persons, who must not be of kin or of counsel to any person interested in the trust estate, appraisers of and in each county in which any part of the trust property may be, and must attach to the commission one of the copies of such inventory, filed by the trustee; and the appraisers must, in writing, appraise at its true value, the property described in such inventory, and set down in figures opposite each item, the appraised value thereof, add each column and carry forward the result so as to show the total valuation placed upon such property, and verify the same by affidavit and make return thereof to the register or clerk who must record the commission to the appraisers and such combined inventory and appraisement, together with the affidavits appended thereto. The other copy of the inventory filed by the trustee must be carefully preserved by the register or clerk, free to examination of all persons, but must not be recorded. The appraisers are severally entitled to $2.00 for each day's service in making such appraisement, to be taxed as costs and collected and paid over by the register or clerk. (Code 1886, §3554; Code 1896, §4157; Code 1907, §6059; Code 1923, §10396; Code 1940, T. 58, §13.)
AL Code § 19-3-26 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-26 - When Petition for Administration May Be Filed; Contents of Petition.

Section 19-3-26When petition for administration may be filed; contents of petition. If the value of the trust estate, as appraised by the appraisers, exceeds $1,000.00, the trustee, or assignor, or any creditor, or any number of them, may file a petition in the circuit court of the county in which the inventory and appraisement are required to be filed, for the administration of the trust. Such petition must briefly allege the making of the assignment, the value of the trust estate, as shown by the appraisement, and the names and residences of all creditors, so far as known, and pray that the trust be administered by the circuit court. (Code 1896, §4158; Code 1907, §6060; Code 1923, §10397; Code 1940, T. 58, §14.)
AL Code § 19-3-27 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-27 - Submission of Petition to Circuit Judge; Order Designating Time for Presenting Claims.

Section 19-3-27Submission of petition to circuit judge; order designating time for presenting claims. Upon the filing of such petition the register or clerk must submit the same, together with the inventory and appraisement, upon the original papers, to the circuit judge and the circuit judge must make an order designating a day, not less than two nor more than 12 months from the date thereof, by or on which day all claims against the trust estate must be presented, verified by affidavit. (Code 1896, §4159; Code 1907, §6061; Code 1923, §10398; Code 1940, T. 58, §15.)
AL Code § 19-3-28 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-28 - Notice to Creditors.

Section 19-3-28Notice to creditors. Upon the making of such order the register or clerk must give notice thereof by mail, postage prepaid, to each creditor whose name and address he may, by diligent inquiry and investigation, ascertain from the trustee, or assignor, or the record of the deed of assignment in the office of the judge of probate, or any other available source of information, and must also give notice by publication once a week for three successive weeks in a newspaper published in the county, or if there be no such paper, by posting the notice at the courthouse door for the same length of time. Such notice may be substantially in the following form: "To the creditors of A.B., of _____: "The said A.B., having made an assignment for the benefit of creditors, and C.D. having filed his petition for the administration of such trust by the circuit court, and the circuit judge having made an order designating the _____ day of _____, as a day by or on which all claims of creditors must be presented; all parties in interest are hereby notified of the filing of such petition, and all persons having claims against the trust estate are required to file the same, or a statement thereof, verified by affidavit, in the office of the register or clerk at _____, by or on the day above specified, or the same will be barred. "This the ____ day of ______. E. F., Register or Clerk" (Code 1896, §4160; Code 1907, §6062; Code 1923, §10399; Code 1940, T. 58, §16.)
AL Code § 19-3-29 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-29 - Presentation of Claims; Verification; Receipt.

Section 19-3-29Presentation of claims; verification; receipt. All claims against the trust estate must be presented by or on the day specified in such order and notice, by filing the claim, or a statement thereof, in the office of the register or clerk, verified as claims against the estate of a decedent are required to be verified, before a notary public or other officer authorized to take and certify affidavits within or beyond the state; and all claims not so presented are precluded from sharing in the assignment or participating in any dividend that may be made from the trust estate, until all presented and allowed claims shall have been paid in full. But when a claim has been so presented prior to giving of such notice, a second presentation is not necessary. Any defect or insufficiency in the affidavit may be remedied by amendment at any time. The register or clerk must give to the creditor, his agent or attorney a receipt for his claim, and must indorse thereon the date of filing and sign his name thereto. (Code 1896, §4161; Code 1907, §6063; Code 1923; §10400; Code 1940, T. 58, §17.)
AL Code § 19-3-30 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-30 - Claims Docket.

Section 19-3-30Claims docket. The register or clerk must keep a docket in which he must enter each claim, showing under appropriate captions, the name and address of the claimant, the amount and character of his claim, when due, by whom certified and when filed, with appropriate spaces for the insertion of the amount of each claim allowed and the amount of the dividend thereon at each distribution of the trust estate. (Code 1896, §4162; Code 1907, §6064; Code 1923, §10401; Code 1940, T. 58, §18.)
AL Code § 19-3-31 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-31 - Claims Presented and Not Objected to Stand Allowed.

Section 19-3-31Claims presented and not objected to stand allowed. All claims to which no objection is made in the manner provided in Sections 19-3-32 and 19-3-33, within three months after the expiration of the time prescribed for the presentation of claims, stand allowed without further proof. (Code 1896, §4163; Code 1907, §6065; Code 1923, §10402; Code 1940, T. 58, §19.)
AL Code § 19-3-32 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-32 - Objections to Claims - Filing of Objections.

Section 19-3-32Objections to claims - Filing of objections. At any time within three months after the expiration of the time allowed for the presentation of claims, or at any time prior thereto, the trustee or assignor or any creditor or party in interest may object to the allowance of any claim filed against the trust estate, by filing objections thereto in writing. (Code 1896, §4164; Code 1907, §6066; Code 1923, §10403; Code 1940, T. 58, §20.)
AL Code § 19-3-33 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-33 - Objections to Claims - Time for Hearing; Notice.

Section 19-3-33Objections to claims - Time for hearing; notice. Within 30 days after the expiration of the time allowed for filing objections to claims, the register or clerk must appoint a time, not less than 20 nor more than 60 days thereafter, for the hearing of such objections as have been filed; and of the nature of the objections and the time appointed for such hearing, he must give notice to each person whose claim is contested, by citation to be served upon him, his agent or attorney, or, if he be a nonresident and have no resident agent or attorney, such citation must be sent by mail, postage prepaid, to such claimant at his post office address. (Code 1896, §4165; Code 1907, §6067; Code 1923, §10404; Code 1940, T. 58, §21.)
AL Code § 19-3-34 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-34 - Objections to Claims - Conduct of Hearing; Order Allowing or Disallowing Claim.

Section 19-3-34Objections to claims - Conduct of hearing; order allowing or disallowing claim. On the day appointed for the hearing, or any day to which the same may be continued, the register or clerk must proceed to hear and note the testimony for and against the contested claim, the verified claim or statement thereof being prima facie evidence of its correctness, and must make an order allowing or disallowing the claim, in whole or in part, according to the evidence. (Code 1896, §4166; Code 1907, §6068; Code 1923, §10405; Code 1940, T. 58, §22.)
AL Code § 19-3-35 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-35 - Duty of Trustee to Render Account.

Section 19-3-35Duty of trustee to render account. Within three months after the expiration of the time allowed for the filing of objections to claims, the trustee must render, under oath, to the register or clerk an account charging himself with all the moneys of the trust estate which have come into his possession, or with which he is chargeable, and crediting himself with all sums to which he is entitled as credits, and must file therewith the vouchers on which he relies to sustain such credits. A similar account must be filed every six months thereafter. (Code 1896, §4167; Code 1907, §6069; Code 1923, §10406; Code 1940, T. 58, §23.)
AL Code § 19-3-36 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-36 - Time for Settlement; Notice to Creditors.

Section 19-3-36Time for settlement; notice to creditors. Upon the filing of such account the register or clerk must appoint a day, not less than 20 nor more than 60 days thereafter, to hear and pass upon the account, and must give notice thereof by mail, postage prepaid, to each creditor, his agent or attorney and to the assignor. (Code 1896, §4168; Code 1907, §6070; Code 1923, §10407; Code 1940, T. 58, §24.)
AL Code § 19-3-37 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-37 - Examination and Auditing of Account; Judgment.

Section 19-3-37Examination and auditing of account; judgment. Upon the day so appointed, or any day to which the hearing may be continued, the register or clerk must proceed to examine and audit the account; and upon such auditing, the assignor or any creditor or party in interest, his representative or transferee, may move the register or clerk to charge the trustee with sums other than those with which he has charged himself, or may object to the allowance of any item for which he claims credit; and such matters must be heard and the account stated and passed upon by the register or clerk and distribution made and judgment to creditors as in insolvent estates administered in the court of probate; and after deducting the costs and expenses of administration, including five percent commissions to the trustee on the amount of money with which he is charged, and the allowance of reasonable charges for the preparation of the deed of assignment, and after the discharge of all liens or claims having priority, the register or clerk must enter judgment to each creditor whose claim has been allowed, his proportion of such money, reserving in the hands of the trustee a ratable proportion for such claims as may be then contested and undecided; and if no appeal is taken, as provided in Section 19-3-38, and prosecuted to effect, the register or clerk may issue execution upon such judgments, against the trustee, and the sureties on his bond, if he has given bond. Upon application to the register or clerk by the assignee or any party in interest, such compensation of the assignee may be increased or diminished by the register or clerk for good cause shown. (Code 1896, §4169; Code 1907, §6071; Code 1923, §10408; Code 1940, T. 58, §25.)
AL Code § 19-3-38 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-38 - Admissibility of Evidence at Hearings; Exceptions; Appeals.

Section 19-3-38Admissibility of evidence at hearings; exceptions; appeals. Upon a hearing before the register or clerk under any of the provisions of this article, any competent legal evidence, written or oral, may be received. All such evidence must be noted and oral testimony reduced to writing by the register or clerk. Within 10 days thereafter, either party may file exceptions to the action or conclusion of the register or clerk, and may have the same reviewed by the circuit judge upon 10 days' notice to the other party, such review to be without any presumption in favor of the correctness of the action or conclusion of the register or clerk. From the decision of the circuit judge thereon an appeal lies to the court of civil appeals or the supreme court within 42 days. (Code 1896, §4170; Code 1907, §6072; Code 1923, §10409; Code 1940, T. 58, §26.)
AL Code § 19-3-39 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-39 - Compromise or Sale of Bad Debts.

Section 19-3-39Compromise or sale of bad debts. Upon the application of the trustee, the court may authorize the compromise of any bad and doubtful debts or choses in action belonging to the trust estate, or the sale thereof to the highest bidder, on such terms and notice as the court may prescribe. (Code 1896, §4171; Code 1907, §6073; Code 1923, §10410; Code 1940, T. 58, §27.)
AL Code § 19-3-40 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-40 - Sale of Real Estate; Notice to Creditors.

Section 19-3-40Sale of real estate; notice to creditors. The trustee may make sale of any real estate or interest therein belonging to the trust estate, at public outcry to the highest bidder, after giving notice thereof by publication once a week for three successive weeks in a newspaper published in the county where the real estate is situated, or, if there be no such paper, by posting notice at the courthouse door for the same length of time; and of such sale the trustee must also give notice by mail, postage prepaid, to each creditor, in time to reach him 10 days before the day of sale. But nothing contained in this section shall prevent the assignee from exercising the powers of sale or other powers conferred by the deed of assignment, unless specially restrained from so doing by an order made in writing by the circuit judge and filed in the court. (Code 1896, §4172; Code 1907, §6074; Code 1923, §10411; Code 1940, T. 58, §28.)
AL Code § 19-3-41 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 2 - Express Trusts for Payment or Security of Debts.|Section 19-3-41 - When Settlements Compelled; Removal of Trustee and Appointment of Successor.

Section 19-3-41When settlements compelled; removal of trustee and appointment of successor. If the trustee shall fail to make settlement, partial or final, as required in this article he may be compelled to do so, by citation to be issued by the register or clerk on order of the court, at the instance of any creditor or party interested in the trust, in all respects as executors and administrators may be compelled to make settlements in the court of probate; or, upon motion of a majority in value of the creditors, the court must remove such defaulting trustee and appoint another in his stead, who may be nominated by the creditors, as provided by this Code, for the nomination of an administrator of an insolvent estate by the creditors thereof. (Code 1896, §4173; Code 1907, §6075; Code 1923, §10412; Code 1940, T. 58, §29.)
AL Code § 19-3-60 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 3 - Business Trusts.|Section 19-3-60 - Definition of "Business trust."

Section 19-3-60Definition of "business trust." A business trust is an express trust created by a written declaration of trust whereby property is conveyed to one or more trustees, who hold and manage the same for the benefit and profit of such persons as may be or become the holders of transferable certificates evidencing the beneficial interest in the trust estate. (Acts 1961, Ex. Sess., No. 251, p. 2263, §1.)
AL Code § 19-3-61 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 3 - Business Trusts.|Section 19-3-61 - Establishment; Lawful Purposes.

Section 19-3-61Establishment; lawful purposes. A business trust may be established by a declaration of trust, duly executed by one or more trustees, for any lawful purpose including, but not limited to, acquiring, managing, improving, leasing, dealing in, selling or otherwise alienating, mortgaging or otherwise incumbering real and personal property of all kinds and descriptions, including dealing in, purchasing, holding, selling and exchanging stocks, bonds, mortgages, deeds of trust and other securities of all kinds and descriptions; receiving the income, dividends, rents, profits and returns therefrom, and investing the same or distributing the same to the beneficial owners of the trust in accordance with the terms of the declaration of trust. (Acts 1961, Ex. Sess., No. 251, p. 2263, §2.)
AL Code § 19-3-62 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 3 - Business Trusts.|Section 19-3-62 - Powers and Liabilities of Trustees; Liability of Trust for Acts of Trustees.

Section 19-3-62Powers and liabilities of trustees; liability of trust for acts of trustees. The trustees shall hold the legal title to all property at any time belonging to the business trust. They shall have control over such property as well as the control and management of the business and affairs of the business trust. Liability to third persons for any act, omission or obligation of a trustee of a business trust, when acting in such capacity, shall extend to the whole of the trust estate, or so much thereof as may be necessary to discharge such obligation, but no trustee shall be personally liable for any such act, omission or obligation. The trustees shall have such powers as to the investment of the trust estate as may be set out in the declaration of trust without regard to the type of investments to which trustees generally are restricted by the provisions of Article 6 of this chapter or otherwise. (Acts 1961, Ex. Sess., No. 251, p. 2263, §3.)
AL Code § 19-3-63 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 3 - Business Trusts.|Section 19-3-63 - Certificates of Ownership; Liability of Beneficial Owners.

Section 19-3-63Certificates of ownership; liability of beneficial owners. The beneficial ownership in a business trust shall be evidenced by certificates issued by the trustees. These certificates shall be transferable in the same manner as stock certificates of a corporation are transferable. No assessment shall be made against the interest of any beneficial owner, and no beneficial owner shall be personally liable for any debts or liabilities incurred by the trustees or by the business trust. (Acts 1961, Ex. Sess., No. 251, p. 2263, §4.)
AL Code § 19-3-64 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 3 - Business Trusts.|Section 19-3-64 - Contents and Recordation of Declaration of Trust.

Section 19-3-64Contents and recordation of declaration of trust. The written declaration of trust may provide for the election of successor trustees in the event of the death, resignation and removal of a trustee and may provide for the amendment of said declaration of trust. The declaration of trust may also contain such other provisions regarding the operation and administration of the business trust as may be necessary or desirable. The declaration of trust shall be recorded in the office of the judge of probate in the county in which its principal place of business is located, and a recording charge of $15.00 shall be paid therefor, which shall be in lieu of all other recording charges. (Acts 1961, Ex. Sess., No. 251, p. 2263, §5.)
AL Code § 19-3-65 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 3 - Business Trusts.|Section 19-3-65 - Duration of Business Trust; Rules Against Perpetuities and Restraint of Alienation Not Violated.

Section 19-3-65Duration of business trust; rules against perpetuities and restraint of alienation not violated. A business trust shall not be deemed invalid as violating the rule against perpetuities or the law against suspension of the powers of alienation. Such trust may continue for such time as may be necessary to accomplish the purposes for which it may be created, provided the declaration of trust contains a provision that such trust may be terminated at any time by action of the trustees or by the vote of a specified percentage in interest of the beneficial owners thereof as set forth in the declaration of trust. (Acts 1961, Ex. Sess., No. 251, p. 2263, §6.)
AL Code § 19-3-66 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 3 - Business Trusts.|Section 19-3-66 - Suits Against Trust; Property Subject to Attachment and Execution.

Section 19-3-66Suits against trust; property subject to attachment and execution. A business trust may be sued for debts and other obligations incurred by the trustees in the performance of their duties under the declaration of trust and for any damages resulting from the negligence of such trustees, and its property shall be subject to attachment and execution in like manner as if it were a corporation. (Acts 1961, Ex. Sess., No. 251, p. 2263, §7.)
AL Code § 19-3-67 (2021)
2021 Code of Alabama|Title 19 - Fiduciaries and Trusts.|Chapter 3 - Trusts.|Article 3 - Business Trusts.|Section 19-3-67 - Taxation.

Section 19-3-67Taxation. Repealed by Act 2006-114, p. 173, §5, effective for tax years beginning on or after January 1, 2005. (Acts 1961, Ex. Sess., No. 251, p. 2263, §8.)