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AL HB343
Bill
Status
3/24/2011
Primary Sponsor
Steve Clouse
Click for details
AI Summary
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Reduces the redemption period for non-agricultural property from one year to 90 days from the date of execution, judgment, or foreclosure sale.
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Maintains the one-year redemption period for property classified and assessed as agricultural or forestry property.
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Applies to debtors, mortgagors, junior mortgagees, judgment creditors, transferees, spouses, children, heirs, and devisees of debtors or mortgagors.
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Effective for all execution, judgment, and foreclosure sales conducted on or after September 1, 2011.
Legislative Description
Real property, mortgages, foreclosures, redemption limited for property other than agriculture and forestry property, reduced, Sec. 6-5-248 am'd.
Property, Real and Personal
Last Action
Financial Services first Substitute Offered
6/1/2011