ARTICLE 8. Delinquent Assessment Acquisition and Sales Law of 1915
Article 8 added by Stats. 1949, Ch. 81.
§§ 53860–53876 · 17 sections
- § 53860 This article may be cited as the “Delinquent Assessment Acquisition and Sale Law of 1915.”
- § 53861 As used in this article, “local agency” means city, county, municipality, or political subdivision.
- § 53862 To the exclusion of other bidders, a local agency may acquire any accrued lien, or property required to be sold for nonpayment of an assessment or delinquency…
- § 53863 The legislative body may designate one of its officers to act for it at the sale.
- § 53864 A lien or property acquired by a local agency pursuant to this article may be released, assigned, sold, or otherwise disposed of by it pursuant to ordinance.
- § 53865 The local agency shall not release, assign, sell or dispose of any such lien or property unless there is first paid to it a sum of money at least equal to the…
- § 53866 If after public notice the lien or property cannot be sold for that total, the legislative body may by a four-fifths vote sell the lien or property for the…
- § 53867 If by resolution adopted by a four-fifths vote the legislative body determines that the property cannot be sold for a sum of money at least equal to the total…
- § 53868 The legislative body shall determine the fair market value of the property or lien and that value is the minimum price receivable on the sale.
- § 53869 By ordinance or resolution the legislative body may provide the notice and the procedure of sale by which the lien or property may be sold and whether the sale…
- § 53870 The notice shall specify: (a) The time and place of sale. (b) The office of the legislative body or clerk thereof where a description of the property may be…
- § 53871 The notice shall be published at least once in a newspaper of general circulation published in the county where is located any part of the property which, or…
- § 53872 The sale shall be not less than twenty-one days after publication of the notice and shall be at public auction.
- § 53873 On the execution of the deed in a sale for cash or on the execution of an agreement for sale in a sale on terms, all rights to redeem the property from…
- § 53874 The deed or agreement is prima facie evidence of regularity of all proceedings from the assessment of the property to and including the execution of the deed…
- § 53875 On default of the purchaser in a sale on terms, the right to redeem is revived.
- § 53876 A local agency may provide and expend a fund or expend money from the general fund to purchase or acquire an accrued lien or property required to be sold for…