HB343 Alabama 2011 Session

Summary

Primary Sponsor

Steve ClouseRepresentative

Republican

Session

Regular Session 2011

Title

Real property, mortgages, foreclosures, redemption limited for property other than agriculture and forestry property, reduced, Sec. 6-5-248 am'd.

Summary

HB343 would shorten the redemption period after foreclosures from one year to 90 days for most property, while preserving a 1-year redemption for agricultural or forestry property, starting with foreclosures on or after Sept. 1, 2011.

What This Bill Does

It amends the redemption rules in Section 6-5-248 to make non-agricultural/forestry property redeemable within 90 days from the foreclosure sale date, and keeps a 1-year period for agricultural or forestry property. The change applies to foreclosure sales that occur on or after September 1, 2011. It maintains who may redeem (debtors, mortgagors, certain family members, judgment creditors, junior mortgagees, transferees, and their spouses/children/heirs/devisees) and explains that when redemption happens, higher-priority liens are revived and must be paid off at redemption.

Who It Affects

• Property owners and borrowers (debtors and mortgagors) would have only 90 days to redeem non-agricultural/forestry property after foreclosure; agricultural/forestry property would still have a 1-year redemption.
• Creditors and other redeeming parties (judgment creditors, junior mortgagees, transferees, and their spouses/children/heirs/devisees) may still redeem within the applicable period, and redemption can revive higher-priority liens to be paid off at redemption.

Key Provisions

• Reduces the redemption period for non-agricultural/forestry property to 90 days from the date of sale.
• Keeps a 1-year redemption period for agricultural or forestry property.
• Applies to all foreclosure sales conducted on or after September 1, 2011.
• Maintains who may redeem: debtors, mortgagors, certain family members, judgment creditors, junior mortgagees, and transferees, plus their spouses, children, heirs, or devisees.
• Redemption period runs from the sale date; property classified as agricultural/forestry property retains the longer period.
• When redemption occurs, all higher-priority recorded judgments, mortgages, and liens existing at the time of sale are revived against the property and the redeemer and must be paid off at redemption.
• If liens are satisfied, the redeemer’s right to redeem ends; other redeeming parties with lower priority may redeem from higher-priority lienholders who have redeemed.
• Mortgagor generally has priority over debtor in redemption, with the mortgagor having priority over the debtor.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Property, Real and Personal