Section 40-10-186

Purchase price.

(a) The purchase price for a tax lien shall be the amount of delinquent taxes plus any interest, penalties, fees, and costs accrued as of the date of the auction or sale.

(b) The purchase price for a tax lien shall be paid to the tax collecting official in cash or immediately available certified funds not later than one hour before close of business on the date of the auction or sale.

(c) The purchase price for a tax lien received by the tax collecting official shall be credited to the tax collecting official for purposes of calculating commissions, if any, on taxes collected by the tax collecting official pursuant to Section 40-5-4.

(Acts 1995, No. 95-408, p. 864, §8; Act 2018-577, §1.)