Section 24-9-7 – Disposition of Tax Delinquent Properties.
Section 24-9-7 Disposition of tax delinquent properties. (a) The authority shall adopt rules for the disposition of property in which the authority holds a legal interest, which rules shall address the conditions set forth in this section. (b) The authority may manage, maintain, protect, rent, repair, insure, alter, convey, sell, transfer, exchange, lease as lessor, […]
Section 24-11-2 – Legislative Declaration.
Section 24-11-2 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Legislative Declaration. The Legislature recognizes that saving for the purchase of a first home is very challenging in today’s economy. The Legislature declares that first-time and second chance […]
Section 24-9-8 – Quiet Title and Foreclosure Action.
Section 24-9-8 Quiet title and foreclosure action. (a) The authority may initiate a quiet title action under this section to quiet title to real property held by the authority or interests in tax delinquent property held by the authority by undertaking the examination of title as required in subsection (b) and thereafter filing the petition […]
Section 24-11-3 – Definitions.
Section 24-11-3 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Definitions. As used in this chapter, the following terms shall have the following meanings: (1) ACCOUNT HOLDER. A first-time and second chance home buyer who establishes, individually or […]
Section 24-9-9 – Applicability of Chapter.
Section 24-9-9 Applicability of chapter. This chapter shall not apply to property owned, operated, or used by utilities engaged in the generation, transmission, or distribution of electricity. (Act 2009-738, p. 2203, §9.)
Section 24-11-4 – Establishment and Use of First-Time and Second Chance Home Buyer Savings Account.
Section 24-11-4 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Establishment and Use of First-time and Second Chance Home Buyer Savings Account. (a) Beginning January 1, 2019, a first-time and second chance home buyer may open an account […]
Section 24-9-10 – Incorporation of Local Authority.
Section 24-9-10 Incorporation of local authority. (a) If the number of tax delinquent properties in a municipality exceeds 100, then the governing body of a municipality may adopt a resolution declaring that it is wise, expedient, and necessary that a local authority be formed by the municipality by the filing for record of a certificate […]
Section 24-11-5 – Account Holder Responsibilities.
Section 24-11-5 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Account Holder Responsibilities. The account holder shall do all of the following: (1) Not use funds held in a first-time and second chance home buyer savings account to […]
Section 24-10-1 – Short Title.
Section 24-10-1 Short title. This chapter shall be known as and may be cited as the Alabama Affordable Housing Act. (Act 2012-384, p. 1015, §1.)
Section 24-11-6 – Responsibilities of Financial Institutions.
Section 24-11-6 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Responsibilities of Financial Institutions. (a) A financial institution shall be required to do the following: (1) Create a new account for the first-time and second chance home buyer […]