SB263 Alabama 2011 Session
Summary
- Primary Sponsor
-
Mark Slade BlackwellRepublican - 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.
- Description
Under existing law, certain parties may redeem real property sold pursuant to an execution, judgment, or foreclosure sale for up to one year from the date of the sale.
This bill would reduce the time period to exercise the right of redemption for all property other than agricultural property to 90 days from the date of the execution, judgment, or foreclosure sale, but would retain the one-year period to exercise the right of redemption for property used for agricultural or forestry purposes. The bill would apply to all foreclosure sales that occur on or after September 1, 2011.
- Subjects
- Property, Real and Personal
Bill Actions
Banking and Insurance first Substitute Offered
Indefinitely Postponed
Reported from Banking and Insurance as Favorable with 1 substitute
Referred to Committee on Banking and Insurance.
Read for the first time and referred to the Senate committee on Judiciary
Bill Text
Documents
Source: Alabama Legislature