California Revenue and Taxation Code 4115 – If payment of the redemption deficiency is not made within 30 days …
If payment of the redemption deficiency is not made within 30 days following the mailing of the notice or bill required by Section 4114, the deficiency shall be transferred to the secured roll prepared or being prepared for the assessment year in which such notice or bill is mailed to the assessee, and shall thereafter be treated and collected like other taxes on such roll; provided, however, that if prior to the date of transfer to the secured roll, with the date of entry specified thereon, the real property on which such redemption deficiency constitutes a lien has been transferred or conveyed to a bona fide purchaser for value or becomes subject to a bona fide encumbrance for value, such redemption deficiency shall not create, impose or constitute a lien on such real property but shall be transferred to the unsecured roll in the name of the assessee at the time the original insufficient payment was made and shall thereafter be treated and collected like other taxes on said roll.
The entry on the roll shall be followed with “Deficiency in Redemption of Parcel Number ____ on __________, 19 _.” The foregoing entry may be made on a document separate from the roll if reference is made on the roll to the document wherein the entry is made. The delinquent tax abstract from which the redemption deficiency is transferred may, at the option of the county, serve as the separate document.
Terms Used In California Revenue and Taxation Code 4115
- Assessee: means the person to whom property or a tax is assessed. See California Revenue and Taxation Code 23
- County: includes city and county. See California Revenue and Taxation Code 15
- Lien: A claim against real or personal property in satisfaction of a debt.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(Added by Stats. 1978, Ch. 430.)