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AL SB30
Bill
Status
1/9/2018
Primary Sponsor
Clay Scofield
Click for details
AI Summary
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Limits the right of redemption for residential property to one year after the foreclosure date, eliminating the previous allowance for up to 180 days plus any delay in notice delivery.
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Establishes that proof of mailing the required notice to the mortgagor constitutes an affirmative defense in any action related to the notice requirement.
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Reduces the timeframe for bringing legal actions related to notice requirements from two years to one year after the foreclosure date.
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Requires mortgagees to mail notice of redemption rights to mortgagors at least 30 days before foreclosure by certified mail with proof of mailing.
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Clarifies that defective or missing notice does not invalidate the foreclosure or transfer of title to the property.
Legislative Description
Residential property, foreclosure, right-of-redemption, time period to redeem further provided for, notice requirement actions, affirmative defense, provided for, time frame for notice requirement actions, further provided for, Sec. 6-5-248 am'd.
Property, Real and Personal
Last Action
Further Consideration
2/13/2018