District of Columbia Statutes
§ 47-1347 — Payment of purchase price at tax sale.
District of Columbia·Title 47 Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]·Ch. 13A Revised Real Property Tax Sales.·Subch. II Sale.
The payment of the purchase price shall be on the terms established by the Mayor. A purchaser shall pay the full amount of his bid, including surplus and costs, within 5 business days after the last day of the sale. If the payment is not received within the time prescribed, 20% of the deposit of the defaulting purchaser shall be forfeited to the District, and the real property shall be deemed to have been bid off to and purchased by the Mayor in the name of the District.
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Related
Aeon Financial, LLC v. District of Columbia
84 A.3d 522 (District of Columbia Court of Appeals, 2014)
Legislative History
June 9, 2001, D.C. Law 13-305, § 507(a)(2), 48 DCR 334; Apr. 4, 2003, D.C. Law 14-282, § 11(ee), 50 DCR 896
Nearby Sections
15
§ 47-1001
Real property — Listing.§ 47-1002
Real property — Exemptions.§ 47-1003
Disabled American Veterans.§ 47-1005
Real property tax exemption.§ 47-1005.03
Nonprofit Workforce Housing Properties.§ 47-1007
Real property tax exemption.§ 47-1009
Appeals from assessments.§ 47-101
[Reserved].§ 47-1010
Rules and regulations.§ 47-1010.01
Real property tax exemption.