Tax Lien Bidding Question - Posted by Michelle Wood

Posted by Bill H on May 20, 2007 at 22:54:13:

FYI here is Alabamba:

Section 40-10-120
Time and by whom land may be redeemed.
Real estate which hereafter may be sold for taxes and purchased by the state may be redeemed at any time before the title passes out of the state or, if purchased by any other purchaser, may be redeemed at any time within three years from the date of the sale by the owner, his heirs, or personal representatives, or by any mortgagee or purchaser of such lands, or any part thereof, or by any person having an interest therein, or in any part thereof, legal or equitable, in severalty or as tenant in common, including a judgment creditor or other creditor having a lien thereon, or on any part thereof; and an infant or insane person entitled to redeem at any time before the expiration of three years from the sale may redeem at any time within one year after the removal of his disability; and such redemption may be of any part of the lands so sold, which includes the whole of the interest of the redemptioner. If the mortgage or other instrument creating a lien under which a party seeks to redeem is duly recorded at the time of said tax sale, the said party shall, in addition to the time herein specified, have the right to redeem said real estate sold, or any portion thereof covered by his mortgage or lien, at any time within one year from the date of written notice from the purchaser of his purchase of said lands at tax sale served upon such party, and notice served upon either the original mortgagees or lienholders or their transferee of record, or their heirs, personal representatives, or assigns shall be sufficient notice.

(Acts 1935, No. 194, p. 256; Code 1940, T. 51, §303.)

Tax Lien Bidding Question - Posted by Michelle Wood

Posted by Michelle Wood on May 20, 2007 at 18:17:38:

If I win the highest bid at a tax lien auction…how long do I have to hold the property in the state of Alabama?