Section 11-NEW - [Newly enacted section not yet numbered] Redemption payment by interested party(a) At any point prior to the conclusion of the sale described in Section 8(a), any interested party may redeem the real property from the sale by payment of the redemption amount. Payment shall be made to the Class 1 municipality. Following receipt of the redemption payment, the Class 1 municipality shall file for dismissal of the proceedings.(b) In the event that the owner of the real property pays the redemption amount, the proceedings shall be dismissed, and the rights and interests of all interested parties shall remain unaffected.(c) In the event of a redemption payment by any interested party other than the owner, the party making the payment shall possess a lien on the real property for the full amount of the payment, which lien shall have the same priority as the municipal code lien described in Section 3(c). The lienholder shall have the right to enforce the lien as permitted to the holder of any lien under existing law. The lienholder shall not otherwise succeed to the rights of the Class 1 municipality or tax certificate holder.Ala. Code § 11-NEW (1975)
Added by Act 2024-246,§ 7, eff. 10/1/2024.