Loading chat...
AL HB397
Bill
Status
2/23/2012
Primary Sponsor
Steve McMillan
Click for details
AI Summary
HB 397 Summary
-
Amends Section 40-10-28 of the Alabama Code to require excess funds from tax sale of real estate be held in escrow in the county treasury until applied to redemption or the 3-year redemption period expires.
-
After the 3-year redemption period lapses, the county commission shall order payment of excess to the property owner or any person who obtained title from the owner since the tax sale.
-
Excess funds unclaimed within 10 years of the tax sale shall be transferred to the county general fund and become permanent county property.
-
The bill becomes effective on the first day of the third month following passage and approval by the Governor.
Legislative Description
Property sold for taxes, excess amount paid at redemption to be held in escrow in county treasury, Sec. 40-10-28 am'd.
Property, Real and Personal
Last Action
Read for the first time and referred to the House of Representatives committee on County and Municipal Government
2/23/2012