HB397 Alabama 2012 Session

Updated Jul 25, 2021

Summary

Primary Sponsor: Steve McMillan
Republican
Session: Regular Session 2012
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.
Subjects: Property, Real and Personal

Read for the first time and referred to the House of Representatives committee on County and Municipal Government