HB349 Summary

• Amends Section 40-10-28 of the Alabama Code to allow persons who have negotiated redemption agreements or purchased property from tax sale purchasers to claim excess funds from the sale within a 10-year period.

• Excess funds from tax sales must be held in a separate county treasury account for 3 years; if unclaimed after 3 years, funds transfer to the county's general fund.

• Requires proof of negotiated redemption, including a recorded deed or conveyance from the tax sale purchaser or their successor in interest to the redeeming party.

• Allows county commissions to issue vouchers for the excess bid amount to persons who have paid all other redemption costs, which can be presented to the probate judge to complete the redemption process.

• Counties retain all interest earned on excess funds; if no valid proof of redemption is received within 10 years of the tax sale, the excess funds become county property.