Staff Analysis of the Legislation
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The current House Ways and Means substitute to this bill (LC 34 4582ERS) makes several changes to procedures for redemptions of property including: 1) adding record owners of property at the time of sale as well as mortgage or security deed holders to the list of persons who can redeem; 2) judgment creditors or tax lien holders can redeem after 300 days upon payment of the required redemption amounts; 3) following redemption, the title may vest back in the record owner at the time of sale subject to all valid liens that exited at that time; and 4) lien enforecement cannot commence sooner than one year from the date of the tax sale. |
