Arizona Laws 48-530. Redemption of property
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.
Terms Used In Arizona Laws 48-530
- city: includes counties, incorporated cities and towns and other corporations organized for municipal purposes. See Arizona Laws 48-501
- Clerk: includes any person or official who performs the duties of clerk of the city or town. See Arizona Laws 48-571
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Property: includes both real and personal property. See Arizona Laws 1-215
- Street: includes avenues, alleys, highways, lanes, crossings, intersections, courts, places and grounds now open or dedicated or hereafter opened or dedicated to public use, and public ways. See Arizona Laws 48-571
- Street superintendent: includes any officer or board who, by law, has charge of streets or the improvement thereof in a city or town. See Arizona Laws 48-501
- superintendent: includes any person who, under whatever official name, is charged with the care or supervision of the streets of the city or town. See Arizona Laws 48-571
- Treasurer: includes any person who, under whatever official name, is the custodian of the funds of the city or town. See Arizona Laws 48-571
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.