Governor Ivey Signs REALTOR® Right of Redemption Bill into Law
February 27, 2018
Sen. Clay Scofield
Rep. Kerry Rich
Last Thursday, Governor Ivey signed the REALTOR® Right of Redemption Bill into law as Act# 2018-126.
Act 2018-126 brings clarification to the right of redemption period and provides a technical amendment to the statutory redemption law to clarify certain timelines during and following the foreclosure process. It makes clear certain notice requirements required by law and does not propose changes to any existing timelines in the current law.
A huge thank you to the House and Senate sponsors, Representative Kerry Rich (R-Guntersville) and Senator Clay Scofield (R-Arab) and our coalition partners, Alabama Bankers, Homebuilders, and Title Insurance Associations in passing this important legislation into law!