HB46 Alabama 2018 Session

Under existing law, a person with the right to redeem residential property has 180 days to exercise that right when the property is sold pursuant to any execution, judgment, or foreclosure sale. Notice of a mortgagor's right to redeem residential property in foreclosure must be mailed by the mortgagee at least 30 days prior to the foreclosure date by certified mail with proof of mailing. The 180-day right of redemption period does not begin to run until notice is given in accordance with state law

This bill would provide that a right of redemption cannot be exercised later than one year after the date of foreclosure

This bill would also provide that possession or production of the proof of mailing of the notice would constitute an affirmative defense to any action related to the notice requirement

Existing law also requires all actions related to the notice requirement be brought within two years after the date of foreclosure, or the action is barred

This bill would limit the time frame in which actions related to the notice requirement can be brought to one year after the date of foreclosure

To amend Section 6-5-248, Code of Alabama 1975, relating to the right of redemption on residential property; to further provide for the right of redemption period after a foreclosure; to provide that the proof of mailing of the notice would constitute an affirmative defense to notice requirement actions; and to limit the time frame in which notice requirement actions can be brought.