HB158 Summary

• Reduces the redemption period for real property sold for nonpayment of taxes, foreclosed mortgages, or court judgments from one year to 60 days from the date of sale.

• Applies prospectively to sales made under mortgages or judgments dated after the bill's effective date; does not apply to sales under mortgages or judgments dated before the effective date.

• Amends Sections 6-5-248, 6-5-252, 8-1-172, 40-10-73, 40-10-74, and 40-10-120 of the Code of Alabama 1975 to reflect the new 60-day redemption period.

• Requires purchasers to provide written itemized statements of all lawful charges within 10 days of demand, with redemption suits to be filed within the 60-day period rather than one year.

• Becomes effective immediately upon passage and approval by the Governor.