SB343 Alabama 2019 Session

Summary

Primary Sponsor

Tom Whatley Senator

Republican

Session

Regular Session 2019

Title

Real estate sold for payment of taxes, recovery actions by owner and actions for possession by tax purchaser, further provided for, tax lien by tax purchaser, authorized, Act 2018-494, 2018 Reg. Sess., repealed; Secs. 40-10-82, 40-10-120 am'd.

Description

Existing law provides for the rights and remedies of a purchaser of real estate at a tax sale and provides that an owner may redeem the real estate sold at the tax sale within three years from the date of the tax sale under certain conditions.

Existing law also provides that there is no time limit for recovery of real estate by an owner who has retained possession of the real estate after the tax sale.

This bill would further clarify that the three-year time limit on actions for recovery would apply to owners not in possession of the real estate after the tax sale.

This bill would also provide that there is no time limit for a tax purchaser to bring an action to possess real estate bought at a tax sale if the real estate was not recovered pursuant to existing law.

This bill would also authorize the tax purchaser to retain a tax lien on the real estate for all taxes, insurance, improvements, attorneys' fees, costs, and interest until the lien is satisfied under certain conditions.

Existing law also provides that an owner redeeming real estate sold at a tax sale would be subject to an interest rate of 12 percent before January 1, 2020, and on or after January 1, 2020, the interest rate would be eight percent.

This bill would keep the interest rate at 12 percent on or after January 1, 2020.

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Subjects

Taxation