I'm hearing that there is a new Alabama law that affects tax liens investors, and not in a good way. Can someone point me to this new law change?

Thanks in advance.

Do you mean buying properties at tax sales ?

I don't see any changes since the 2006 laws went into effect, They still issue certificates, 12 percent interest if redeemed,

They do have the ability to purchase certificates issued to the state ( no bids at sale equal to tax amount)

I have made some of my best money on tax sale properties in that state.

I have some tax liens in Alabama, but supposedly there is a new law change that I can't find.

Bought a couple this year and saw no changes, I reviewed the State and a couple county web sites and see no changes listed.

Perhaps it is still just a bill that has not passed yet,

Buying listed property that did not sale at auction is not bad to do, it is all listed on one state web site and easy to do also, still works the same way.

And of course any new law should have no effect on past sales

I finally found it, tell me what you think - http://ali.state.al.us/documents/2009-session-summary-july2009.pdf
I don't like the second part - The owner who remains in possession after the sale may always redeem.- is this even on lots and acres?

Quote:

---

Originally Posted by jdizzo

I finally found it, tell me what you think - http://ali.state.al.us/documents/200...y-july2009.pdf
I don't like the second part - The owner who remains in possession after the sale may always redeem.- is this even on lots and acres?

---

What you linked to is just a summary. I can't find the actual text of the bill (the legislature's site only has this, apparently), and the online code doesn't appear to be up to date to include the 2009 session.

But I'm guessing that what it means by "2. The owner who remains in possession after the sale may always redeem" is this: the purchaser has to have evicted the former owner before the former owner's redemption rights can expire.

Got some answers from downtown; if you have a lien that has a house or trailer on it, you can't gain possession of that property until it's vacant. Also, the redemption time was increased from 3 years to 6 years -- ouch.