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GA HB938
Bill
Status
Introduced
2/8/2016
Primary Sponsor
Brian Prince
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AI Summary
- Purchasers of property at a tax sale are required to maintain the property in compliance with all local laws and ordinances and in a state of good repair from the date of sale through foreclosure of the right of redemption
- If the original owner redeems the property, they must reimburse the tax sale purchaser for reasonable maintenance costs incurred as part of the redemption price
- For sales made after July 1, 2016, the redemption price is expanded to include any sums the purchaser paid to maintain the property between the tax sale date and the redemption date
- The existing redemption price structure is preserved, including the original purchase price, subsequent taxes and special assessments paid, and a premium of 20% for the first year plus 10% for each additional year
- Amends Chapter 4 of Title 48 of the Official Code of Georgia Annotated by adding new Code Section 48-4-8 and revising Code Section 48-4-42
Legislative Description
Tax; maintenance of the property so sold; provide
Last Action
House Withdrawn, Recommitted
2/10/2016
Full Bill Text
No bill text available