HB277 Alabama 2011 Session

Summary

Primary Sponsor

Randy Davis

Republican

Co-Sponsors

Harry ShiverJoe FaustSteve McMillan

Session

Regular Session 2011

Title

Property sold for taxes, excess amount paid at redemption to be held in escrow in county treasury, Sec. 40-10-28 am'd.

Description

Under existing law, if property is sold for delinquent ad valorem taxes, the taxable purchaser may pay an excess amount which may be paid over to the delinquent taxpayer without redeeming the property under certain circumstances.

This bill would provide that the excess from the sale shall be paid to the county treasury until the excess is applied to the redemption of the property or the 3-year period for redemption period has lapsed.

This bill would provide that after the 3-year redemption period has lapsed the excess shall be paid to the owner or his or her agent at the time of the sale or to any person who, since the sale, has obtained title to the property from the owner.

This bill would require the excess be called for within 10 years of the sale or the excess shall be placed in the county general fund.

Show more Show less

Subjects

Property, Real and Personal