House Bill 1353
Introduced House Bill (H)
DIGEST
Tax sale redemptions. Makes changes to the procedure that applies to real property that has been sold at a tax sale if the owner of the real property conveys the property during the redemption period. Changes the redemption period that applies to real property for which a county executive acquires a certificate of sale after the real property failed to sell at a tax sale. Provides that if real property sold at a tax sale is redeemed, the interest rate on the following components of the redemption amount is increased from 5% per annum to the statutory rate for judgments
Tax sale redemptions. Makes changes to the procedure that applies to real property that has been sold at a tax sale if the owner of the real property conveys the property during the redemption period. Changes the redemption period that applies to real property for which a county executive acquires a certificate of sale after the real property failed to sell at a tax sale. Provides that if real property sold at a tax sale is redeemed, the interest rate on the following components of the redemption amount is increased from 5% per annum to the statutory rate for judgments
on money (8% per annum under current law): (1) The amount by which the sales price exceeds the minimum bid. (2) The amount of the taxes and special assessments paid by the purchaser. Repeals most of the tax sale surplus disclosure statute, retaining only the provision prohibiting a county auditor from endorsing a document of conveyance for property sold during the tax sale redemption period unless the purchaser has redeemed the property.
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