48-943. Redemption

179 words·~1 min read·/az/title-48/48-943

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. Redemption may be made by any party having an interest in the lot at any time before the execution and delivery of a deed therefor by paying to the superintendent the amount for which the property was sold and five per cent thereon if paid within three months from the date of sale, ten per cent if paid within six months, twelve per cent if paid within nine months, fifteen per cent if paid within twelve months, or twenty per cent if paid at any time after twelve months.

B. When redemption is made, the superintendent shall note that fact on the duplicate certificate of sale in his office and deposit the amount paid with the treasurer, who shall credit the purchaser named in the certificate of sale with such amount, and pay such sum to the purchaser or his assignee, upon the surrender of the certificate of sale.

C. When the district is the purchaser, the treasurer shall notify the clerk of the redemption, and the clerk shall thereupon cancel the certificate of sale in his office.