HB277 Summary

• Amends Section 40-10-28, Code of Alabama 1975, to require excess funds from tax sale of real estate be held in escrow in the county treasury until applied to property redemption or the 3-year redemption period expires.

• After the 3-year redemption period lapses and within 10 years of the tax sale, the county commission shall order payment of excess to the original property owner or any person who obtained title from that owner since the sale.

• Excess funds not claimed within 10 years after the tax sale shall be placed in the county general fund and become county property, with strikethrough of prior 3-year limitation period.

• Becomes effective on the first day of the third month following passage and approval by the Governor.