HB46 Alabama 2018 Session

Summary

Primary Sponsor

Kerry Rich

Republican

Session

Regular Session 2018

Title

Residential property, foreclosure, right-of-redemption, time period to redeem further provided for, notice requirement actions, affirmative defense, provided for, time frame for notice requirement actions, further provided for, Sec. 6-5-248 am'd.

Description

Under existing law, a person with the right to redeem residential property has 180 days to exercise that right when the property is sold pursuant to any execution, judgment, or foreclosure sale. Notice of a mortgagor's right to redeem residential property in foreclosure must be mailed by the mortgagee at least 30 days prior to the foreclosure date by certified mail with proof of mailing. The 180-day right of redemption period does not begin to run until notice is given in accordance with state law.

This bill would provide that a right of redemption cannot be exercised later than one year after the date of foreclosure.

This bill would also provide that possession or production of the proof of mailing of the notice would constitute an affirmative defense to any action related to the notice requirement.

Existing law also requires all actions related to the notice requirement be brought within two years after the date of foreclosure, or the action is barred.

This bill would limit the time frame in which actions related to the notice requirement can be brought to one year after the date of foreclosure.

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Subjects

Property, Real and Personal