Tax Deed properties intrest rate, Alabama
Tax deed properties earn 12% interest. Should a interested party (past owner or mortgagor) seek to redeem the property with right of redemption. They must pay back what was paid to the county for the tax deed. the cost of necessary repairs. the cost of quite tile legal fees. But what is the 12% interest applied too? Is it for all expenses on the property or just the amount paid to the county?
Redemption price = (12% * (tax deed cost + necessary repairs + legal)) + tax deed cost + necessary repairs + legal
or
Redemption price = (12% * tax deed cost) + tax deed cost + necessary repairs + legal