SB218 Alabama 2012 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Property, sale for tax delinquents, excess funds to owner of property, includes holder of records, Sec.40-10-28 am'd
Description
<p class="bill_description"> Under existing law, excess funds arising
from the sale of any real estate for taxes may be
paid to the owner of the property that has been
sold</p><p class="bill_description">
This bill would clarify that the owner of
property entitled to receive such excess funds
includes holders of recorded mortgages and would
establish the priority of the distribution of any
excess funds</p><p class="bill_entitled_an_act"> To amend Section 40-10-28, Code of Alabama 1975,
relating to the distribution of excess funds arising from the
sale of real estate for taxes, by defining the terms "owner"
and "rightful owner" to include the holder of any recorded
mortgages and other persons owning the property; to establish
the order of payment of any excess funds; and to provide for
the effective date of this act.
</p>
Subjects
Property, Real and Personal
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 7, 2012 | Read for the first time and referred to the Senate committee on Judiciary |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB218 Alabama 2012 Session - Introduced |