HB158 Alabama 2014 Session

Session

Regular Session 2014

Title

Real property, redemption of property sold for nonpayment of taxes, foreclosure, or court judgment, time period reduced, partial prospective application, Secs. 6-5-248, 6-5-252, 8-1-172, 40-10-73, 40-10-74, 40-10-120 am'd.

Description

Under existing law, a person has one year to redeem real property that is sold for nonpayment of taxes, that is foreclosed on, or that is sold pursuant to the execution on a judgment of a court.

This bill would reduce the redemption period of such real property to 60 days and would provide for prospective application for sales pursuant to a foreclosure or court judgement.

Relating to redemption of real property for nonpayment of taxes and real property foreclosed on under a mortgage or sold by virtue of a judgment, to reduce the redemption period; to amend Sections 6-5-248, 6-5-252, 8-1-172, 40-10-73, 40-10-74, and 40-10-120 of the Code of Alabama 1975; and to provide for partial prospective operation.

Subjects

Property, Real and Personal