I previously posted about Senator Pittman's bill in the Alabama legislature to reduce tax sale redemption interest rate from 12% to 7.5% It is SB362. Everyone is focused on that. BUT, IN ADDITION.... On May 5th, he introduced an amendment to his bill. The amendment says the redeeming party does NOT have to pay the investor for preservation improvements and other charges before redeeming. The county official can issue the redemption certificate anyway. I'd heard this bill and its amendment would be killed in committee, but it's back on track again!!!! Please CALL or email your elected officials and tell them to vote NO. If the bill passes, with the amendment, you will be left with NO remedy to get your preservation improvements. You can't file a lien against the property, because that is not allowed--the property owner could sue you for "clouding title" or "slander of title.". All you will be able to do is sue the redeeming party, get a judgment, and THEN file a lien. Insane!
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