Burr Alert: Recent Developments Concerning the Right of Redemption Relating to Homestead Property

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See ALA. CODE §§ 6-5-248, 6-5-252. The current redemption law does not require the foreclosing entity to provide notice to the owner of a homestead property (or any type of property for that matter) being foreclosed that the owner may be able to redeem the property from foreclosure.

On April 23, 2015, the Alabama legislature enacted a new right of redemption law, Act of Apr. 23, 2015, Alabama Senate Bill No. 124, Ala. Acts, 2015-79 (codified as amended at ALA. CODE §§ 6-5-248, 6-5-252), which reduces the redemption period for homestead properties (other types of property are unaffected by this new law) from one (1) year to 180 days from the date of the foreclosure sale, provided the requisite notice is given. This new law goes into effect on January 1, 2016. The specific changes found in the new redemption law are in the link below.

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