Alabama Form 433-B (OIC) 2024-2025

Alabama Form 433-B (OIC): What You Should Know

The petitioner must file a petition in accordance with the following, and the governor must approve the petition within 5 days, if it is filed within that time limit. The petition must set forth the following: a. The name of the petitioner and his or her title or position with respect to the beneficiary; b- (1) If the beneficiary who is the petitioner is a corporation, a description of the corporation; c- (2) If the beneficiary who is the petitioner and the recipient are both married to the same person, both of them must be identified in the petition, and the name of the person who is the mother or father of either the beneficiary or the recipient must be specified; and d- (3) A description of the amount or value of the property subject to the claim or indebtedness of the petitioner in excess of 50,000, which property, to the extent that it is subject to the claim, may be represented by a legal title satisfactory to the petitioner. A copy of the petition must be posted or otherwise made available to any interested person within 2 calendar days after the petitioner files it with the governor. If, in the opinion of the governor, an interested person has not objected to notice of an action on the petition within such number of days, then the petition must be considered approved and the governor shall approve the petition. If the petition is approved, the governor must forthwith direct the sheriff or other duly authorized officers to enter into the same and to execute the bonds to be issued by the court by which the petition was filed. In the event of any failure to comply with the provisions of this section, the petitioner may commence an action in the district court having jurisdiction of any court of record in this state to enforce the rights herein. Such proceedings upon such an action, in default of a default judgment as hereinafter provided, may be had on the first application therefor filed with the court, unless the district court determines that the interests of justice require a trial on an original action before a jury in the proper jurisdiction. Title 34 Property, Conveyances and Security Transactions 34-21-434.

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