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GA HB51
Bill
Status
Passed
5/3/2016
Primary Sponsor
Tommy Benton
Click for details
AI Summary
- Amends Georgia's tax sale redemption law to replace references to "redemption price" with "amount required for redemption" throughout the relevant code sections (O.C.G.A. §§ 48-4-40 and 48-4-42)
- Retains existing redemption payment requirements: the amount paid at tax sale, plus any taxes and special assessments paid by the purchaser, plus a 20% premium for the first year and 10% for each additional year
- Adds a new provision for tax sales made after July 1, 2016, requiring the redeeming party to also reimburse the purchaser for any dues or assessments paid to property owners' associations, condominium associations, or homeowners' associations during the period between the tax sale and redemption
- Maintains the requirement that if redemption occurs more than 30 days after the statutory foreclosure notice is given, the sheriff's service costs and publication costs must also be paid
- Requires all redemption amounts to be paid in U.S. currency to the tax sale purchaser or their successors
Legislative Description
Taxes; amount payable at redemption of property; change provisions
Last Action
Effective Date
7/1/2016
Full Bill Text
No bill text available