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People also ask
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How do tax lien auctions work in Alabama?
Bids are based on the amount of interest the buyer is willing to accept as full payment on the lien. The lien is sold to the bidder who bids the lowest interest rate on the amount required to be paid to redeem the property from the auction. The beginning interest rate bid shall not exceed a rate of 12%.
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What is a certificate redemption?
A certificate of redemption is a document given to someone who has paid the amount owed to reclaim their property that was foreclosed. It proves that the debtor has paid the redemption price for the foreclosed property.
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How does Alabama tax lien sale work?
The lien is sold to the bidder who bids the lowest interest rate on the amount required to be paid to redeem the property from the auction. The beginning interest rate bid shall not exceed a rate of 12%. Additional bids may be made at a rate less than the immediately preceding bid.
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Does paying property tax give ownership in Alabama?
No. Paying taxes on property does not constitute ownership. State law allows taxes to be paid by persons other than the owner(s).
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How long does an owner have to redeem property sold for back taxes in Alabama?
When Can The Property Be Redeemed? Within three years from the date of the tax sale. – When the tax deed has been delivered to and signed for by the purchaser.
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How to invest in tax liens in Alabama?
Our tax lien auction is online, you may register as a bidder by going to .GovEase.com. Each bidder will be assigned a number for use during the bidding process. The successful bidder will pay the entire amount of taxes, interest, fees, penalties, and cost associated with the parcel.
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Is Alabama a tax lien or tax deed state?
The Revenue Commissioner is authorized to secure payment of delinquent taxes through a tax lien auction, in which the perpetual first priority lien provided by Alabama Code § 40-1-3 is sold and transferred to a purchaser through a public auction, to recover any taxes assessed and levied against the property, along with ...
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What is a redeemable tax deed auction?
However, some deed sales grant the delinquent property owner the right to redeem their property for a period of time after the sale. Called Redeemable Deed Sales, the period of redemption varies from state to state from as short as 30 days to a few years.
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