In Georgia, when real estate is sold at a tax sale, the taxpayer or any person having a right, title, interest in, or lien upon the property may buy it at any time within 12 months from the date of sale by paying the redemption price. The property may be redeemed at any time after the initial 12 months until the tax sale buyer forecloses (or terminates) the right to do so by giving proper notice.
To redeem a property following a tax sale, the redeeming party must pay the amount paid for the property at the tax sale, plus any taxes paid on the property by the purchaser after the sale for taxes, plus any special assessments on the property, plus a premium of 20 percent of the amount for the first year or fraction of a year which has elapsed between the date of the sale and the date on which the redemption payment is made and 10 percent for each year or fraction of a year thereafter.
After 12 months from the date of the tax sale, the purchaser can forever bar redemption of the property by giving notice to the delinquent taxpayer, the occupant, if any, and upon all persons having recorded any right, title, interest in, or lien on the property in the county where the land is located. The purchaser must write an original notice in accordance with Georgia law, and deliver this notice, together with a list of persons to be served, to the sheriff of the county in which the real estate is located. The notice must be delivered not less than 45 days before the date set in the notice for termination of the right of redemption.
Should a party seeking to redeem a property fail to assert its rights to redeem the property within the initial 12 month period or within the time allowed under the notice of right of foreclosure summarized above, the redeeming party’s interest in the property is forever cancelled.
Whether you’re buying a tax deed or seeking to redeem a tax deed, please call us to discuss your options.