For purposes of this chapter, the following terms have the following meanings:
(1)INTERESTED PARTY. Any of the following:
a. The person who last appears as owner of a particular real property in the office of the judge of probate’s property records.
b. The current mortgagee of record of the real property or assignee of record of the mortgagee.
c. The current holder of a beneficial interest in a deed of trust recorded against the real property.
d. A tax certificate holder.
e. A tax sale purchaser that holds a deed of purchase in accordance with Section 40-10-29.
f. A tax lien purchaser that holds a tax lien certificate in accordance with Section 40-10-187.
g. Any party having an interest in the real property, in whole or in part, legal or equitable, in severalty or as tenant in common, who
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For purposes of this chapter, the following terms have the following meanings:
(1) INTERESTED PARTY. Any of the following:
a. The person who last appears as owner of a particular real property in the office of the judge of probate’s property records.
b. The current mortgagee of record of the real property or assignee of record of the mortgagee.
c. The current holder of a beneficial interest in a deed of trust recorded against the real property.
d. A tax certificate holder.
e. A tax sale purchaser that holds a deed of purchase in accordance with Section 40-10-29.
f. A tax lien purchaser that holds a tax lien certificate in accordance with Section 40-10-187.
g. Any party having an interest in the real property, in whole or in part, legal or equitable, in severalty or as tenant in common, whose identity and address is reasonably ascertainable from the records of the Class 1 municipality or records maintained in the county office of the judge of probate or as revealed by a full title search, consisting of 60 years or more.
h. An interested party shall not include the holder of the benefit of an easement that burdens the real property, the holder of the benefit or burden of a real covenant that burdens the real property, or the holder of the benefit of a utility easement that burdens the real property.
(2) MINIMUM BID PRICE. The price that equals the redemption amount.
(3) MUNICIPAL CODE LIEN. Any lien that has been levied against real property by a Class 1 municipality due to the nonpayment of any fine, penalty, abatement cost, assessment, or enforcement cost incurred by a Class 1 municipality related to the enforcement of state or local housing and building codes or a lien arising from the abatement of nuisances by the Class 1 municipality. The term shall apply only to those liens that arise out of a failure to comply with any of the following or from the failure to comply with a Class 1 municipality’s ordinances enacted pursuant to the authority granted in any of the following:
a. Article 2 of Chapter 40.
b. Sections 11-47-117 and 11-47-118.
c. Sections 11-47-130, 11-47-131, and 11-47-140.
d. Chapter 53.
e. Chapter 53B.
f. Article 4 of Chapter 67.
g. Section 45-37A-53.
(4) MUNICIPAL CODE LIEN PAYOFF. An amount equal to the sum of the following:
a. The principal amount of a municipal code lien.
b. Interest accrued at the rate of six percent per annum from the date the municipal code lien was filed in the judge of probate’s office unless a different rate and date of accrual is specified by law.
c. Any fees or costs incurred in the collection of a lien under this chapter including, without limitation, the cost of title examinations and publication of notices.
d. Any attorney fees, filing fees, and court costs incurred in a judicial in rem foreclosure proceeding under this chapter.
e. Any other penalties authorized under state law or pursuant to an ordinance enacted by a Class 1 municipality.
(5) OWNER-OCCUPIED. Real property that is lawfully occupied as a principal residence of the owner of record or of a family member of a deceased individual who was the owner of record at the time of his or her death, and that is any of the following:
a. A homestead as provided in Section 40-9-19.
b. Exempt from ad valorem taxation under Sections 40-9-19.1, 40-9-20, or 40-9-21.
c. Eligible for, but not yet granted, either of the designations set forth in paragraph a. or b.
(6) REDEMPTION AMOUNT. The sum of the following:
a. The full amount of the municipal code lien payoff for each municipal code lien on which a Class 1 municipality is seeking to foreclose under this chapter.
b. Any tax payoff that may be applicable to the property on which the Class 1 municipality is seeking to foreclose under this chapter.
(7) TAX CERTIFICATE HOLDER. Any of the following:
a. A tax sale purchaser that holds a certificate of purchase pursuant to Section 40-10-19.
b. The state, in the event that it has accepted and recorded a certificate of purchase obtained at a tax sale pursuant to Section 40-10-20.
c. A county, in the event that a tax lien not sold at a tax lien auction of real property situated in the county is retained by the county pursuant to Section 40-10-199.
d. Any party to which a certificate of purchase obtained at a tax sale has been assigned pursuant to Section 40-10-21.
e. The purchaser or assignee of a tax lien certificate as provided in Section 40-10-187.
(8) TAX PAYOFF. All amounts necessary to satisfy any claims for delinquent taxes assessed against the real property on which a Class 1 municipality is seeking to foreclose under this chapter. These amounts shall include all of the following:
a. If the taxes associated with the property are delinquent pursuant to Sections 40-11-4 or 11-51-2 but the property has not yet been sold for taxes, then the full amount of delinquent taxes, costs, fees, and charges due to the county tax collector pursuant to Section 40-5-8.
b. If the property has been sold to the state for taxes, then those amounts required for redemption as provided in Sections 40-10-83, 40-10-120, 40-10-121, and 40-10-122 except that when a Class 1 municipality is the prevailing bidder, the tax payoff amount shall be the lesser of these amounts or the amount provided by Section 40-10-132(a)(2).
c. If the property has been sold for taxes to a party other than the state, then those amounts required for redemption as provided in Sections 40-10-83, 40-10-120, 40-10-121, and 40-10-122.
d. If a tax lien has been sold by a county pursuant to Section 40-10-182, then the amount required for redemption pursuant to Section 40-10-193.
(9) TAXES. The taxes assessed against real property by either the state, the county, or a Class 1 municipality in which the real property is situated which are delinquent pursuant to Sections 40-11-4 or 11-51-2 as of the date a proceeding under this chapter is commenced or at any time before final resolution of the same and shall include any taxes assessed against real property that are unpaid from any previous year and any amounts required for redemption pursuant to Sections 40-10-83, 40-10-120, 40-10-193, or 11-51-23. As provided in Section 11-51-6, a lien for taxes shall be superior to all other liens, including municipal code liens.