HB397 Alabama 2012 Session

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

To amend Section 40-10-28, Code of Alabama 1975, relating to redemption of property sold for taxes; to provide that the excess from sale of property shall be held in escrow in the county treasury until the excess is applied to the redemption of the property or the 3-year period for redemption has lapsed; to provide that after the 3-year redemption period has lapsed and within 10 years of the tax sale, the commission shall order payment of excess to the property owner.