SB38 Alabama 2013 Session

Under existing law, the Alabama Land Bank Authority may acquire tax delinquent properties for rehabilitation

This bill would expand the definition of the term "agreement" to include an agreement between an authority and a local authority

This bill would define the term "local authority" as an authority created by a county or municipality for the purposes of transferring property to the land bank authority

This bill would allow the land bank authority to institute a foreclosure action and to acquire title to property by purchase, donation, exchange, or otherwise provide the procedure to institute a foreclosure action

This bill would allow the land bank to submit a request to the Land Commissioner of the State of Alabama for transfer of the state's interest in tax delinquent properties that have been held by the state for at least five years

This bill would provide the procedure for the conveyance or the disposition of properties or rights or interests held by the land bank authority

This bill would provide for the creation of local land bank authorities

To amend Sections 24-9-4, 24-9-5, 24-9-6, 24-9-7, 24-9-8, and 40-10-132 of the Code of Alabama 1975, relating to the Alabama Land Bank Authority; to expand the definition of the term "agreement" to include an agreement between an authority and a local authority; to define the term "local authority" as an authority created by a county or municipality for the purpose of transferring property to the land bank authority; to allow the land bank authority to institute a foreclosure action; to acquire title to property by purchase, donation, exchange, or otherwise provide the procedure to institute a foreclosure action; to allow the land bank to submit a request to the Land Commissioner of the State of Alabama for transfer of the state's interest in tax delinquent properties that have been held by the state for at least five years; to provide the procedure for conveyance or disposition of properties or the rights or interests of properties held by the land bank authority; and to add a new Section 24-9-10 to Chapter 9, Title 24 of the Code of Alabama 1975, to provide for the creation of local land bank authorities.