Section 24-10-10 – Organizations Eligible for Funding.
Section 24-10-10 Organizations eligible for funding. The following organizations shall be eligible to apply to ADECA for funding: (1) Not-for-profit organizations. (2) Municipalities. (3) Counties. (4) Public housing authorities. (5) For-profit organizations. Profit organizations that use Alabama Housing Trust Fund monies to provide housing for extremely low income individuals and families must partner with not-for-profit […]
Section 24-9-5 – Alabama Land Bank Authority Board.
Section 24-9-5 Alabama Land Bank Authority Board. (a) There is created the Alabama Land Bank Authority Board which shall govern the authority to administer and enforce this chapter. (b) The board shall consist of the following members: (1) Four residents of the state appointed by the Governor. (2) Two representatives from nonprofit organizations engaged in […]
Section 24-10-11 – Ownership Requirements.
Section 24-10-11 Ownership requirements. All home ownership projects funded by the Alabama Housing Trust Fund must follow the same ownership requirements of the current Alabama Habitat for Humanity home ownership program. (Act 2012-384, p. 1015, §11.)
Section 24-9-6 – Acquisition of Tax Delinquent Properties.
Section 24-9-6 Acquisition of tax delinquent properties. (a) The authority, at such times as it deems to be appropriate, may submit a written request to the Land Commissioner of the Alabama Department of Revenue for the transfer of the state’s interest in certain properties to the authority. Upon receipt of such request, the Land Commissioner […]
Section 24-11-1 – Short Title.
Section 24-11-1 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. Short Title. This act shall be known and may be cited as the “Alabama First-time and Second Chance Home Buyer Savings Account Act.” (Act 2018-467, §1.)
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.)