TITLE 2: NATURAL RESOURCES
DIVISION 4: LAND RESOURCES
§ 4542. Redemption Amount; Time; Payment; Disagreement as to Amount; Proceedings for Determination; Notice and Hearing; Certificate. (a) The judgment debtor may redeem the property from the purchaser within 12 months of the date of the sale, upon paying the purchaser the amount of the purchase, with one percent per month interest thereon, up to the time of redemption. In addition, the judgment debtor shall pay the following: (1) The amount of any assessment or taxes; (2) Any reasonable sum paid for fire insurance, maintenance, upkeep, or repair or improvements located upon the property; (3) The fair market value of any improvements constructed upon the property; and (4) Any sum paid on a prior obligation secured the property to the extent such payment was necessary for the protection of the purchaser’s interest, which the purchaser may have paid thereon after purchase, and interest on such amounts in the amount computed above. (b) In the event of a disagreement between the purchaser and the judgment debtor as to whether any sum demanded by the purchaser is a proper charge to be added to the amount required for redemption, the judgment debtor shall pay to the clerk of the court the amount demanded by the purchaser for redemption which the purchaser believes, in good faith, are the amounts allowed by this chapter, less the amount in dispute. The judgment debtor shall at the time file with the court a written petition setting forth specifically the item or items to which the judgment debtor objects, together with reasons for those objections, and asking that a proper amount be determined by the court. (c) The court shall thereupon fix a date, not less than 10 nor more than 20 days from the date of the filing, for a hearing on the objection. A copy of the petition, together with a notice of hearing, giving the time and place of the hearing, shall be served by the judgment debtor or his attorney, upon the purchaser not less than five days before the day of hearing. (d) Upon the day fixed for hearing, the court shall determine, either upon affidavit or evidence which is satisfactory to the court, by order duly entered in the minutes of the court, the amount required for redemption. (e) When the amount required for redemption has been determined, and if the amount previously deposited with the court is sufficient, that amount shall be forthwith paid to the purchaser upon the execution of a proper certificate of redemption. The certificate of redemption shall state the names of the purchaser and redemptioner, the claim, instrument, or judgment under which the redemptioner derives the right to redeem, and the date and amount of the redemption and particularly describing the redeemed property. If an additional amount to that previously paid to the court is required, the redemptioner shall pay the additional amount to the clerk within 10 days. The redemptioner shall then pay the whole amount necessary to the purchaser upon the execution by the purchaser of a proper certificate of redemption. The certificate of redemption so issued may be
TITLE 2: NATURAL RESOURCES
DIVISION 4: LAND RESOURCES
deposited with the clerk for delivery to the redemptioner, or given to the redemptioner at the time of payment. Source: DL 4-143, § 27.