48-530. Redemption of property
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/az/title-48/48-530A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Redemption of a parcel of property sold for delinquent assessment may be made by any party in interest, at any time prior to the execution and delivery of a deed therefor, by paying to the street superintendent the amount for which the property was sold, and interest thereon from the date of sale at the rate of ten per cent per annum if paid within twelve months, or fifteen per cent if paid thereafter.
B. When redemption is made, the street superintendent shall note that fact on the duplicate certificate of sale in his office, and deposit the amount paid with the city or town treasurer, who shall credit the purchaser named in the certificate of sale with the amount, and pay such amount to the purchaser, or his assignee, upon surrender of the certificate of sale.
C. When the municipality is the purchaser, the treasurer shall notify the clerk of the redemption, and the clerk shall cancel the certificate of sale on file in his office.