Arizona Laws 48-2073. Redemption
A. A party having an interest in the lot may redeem the property at any time before the execution and delivery of a deed by paying to the district the amount for which the property was sold and an additional five per cent 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 after twelve months.
Terms Used In Arizona Laws 48-2073
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Lot: means any portion, piece, parcel or subdivision of land or property, or property owned or controlled by any person as a railroad right-of-way. See Arizona Laws 48-2041
- Property: includes both real and personal property. See Arizona Laws 1-215
- Treasurer: means a person who, under any official title, is the custodian of the monies of the sanitary district. See Arizona Laws 48-2041
B. When redemption is made, the agent shall note that fact on the duplicate certificate of sale in his office and deposit the amount paid with the treasurer. The treasurer shall credit the purchaser named in the certificate of sale with the amount and pay the amount to the purchaser or his assignee on the surrender of the certificate of sale.