Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2018

Revenue and Taxation Code

Property Taxation

Part 6. Tax Sales

CHAPTER 7. Sale to Private Parties After Deed To State

Section 3693.1

3693.1. Cash or credit sale. Notwithstanding Section 3693, the tax collector may make the sale of any property sold under this chapter a cash or deferred-payment transaction. If the tax collector approves the sale as a deferred-payment transaction, the tax collector may require a deposit in the amount of five thousand dollars ($5,000) or 10 percent of the minimum bid price, whichever is greater. The balance of the purchase price shall be paid by any method of payment authorized by Section 2502, 2503.2, or 2504, as specified by the tax collector and within a period specified by the tax collector not to exceed 90 days from the date of the close of auction as a condition precedent to the transfer of title to the purchaser. If the purchaser was required to pay a deposit prior to the date of the sale, the deposit shall be applied toward the purchase price of the property. Failure on the part of the successful bidder to consummate the sale within the period specified by the tax collector shall result in the forfeiture of the deposit and all rights he or she may have with respect to that property. Any forfeiture of deposit shall be distributed to the county general fund and shall not apply to outstanding delinquent taxes. Upon forfeiture the right of redemption shall revive.

History.—Added by Stats. 1975, Ch. 1053, p. 2492, in effect January 1, 1976. Stats. 1984, Ch. 866, in effect January 1, 1985, substituted "90 days" for "60 days," in the second sentence, and substituted "to the county . . . delinquent." for "as" after "distributed" in the fourth sentence. Stats. 1986, Ch. 1420, effective January 1, 1987, substituted the fifth sentence for the former fifth sentence which provided that "This section may be held applicable in any tax auction sale in the county at the discretion of the tax collector.". Stats. 1990, Ch. 992, in effect January 1, 1991, added "tax collector approves the" after "event the", substituted "purchaser's request" for "purchaser elects", after "successful", added "in lawful money . . . the tax collector" after "cash", substituted "to exceed" for "more than" after "not", and substituted "that" for "such" after "title to" in the second sentence; substituted "specified by the tax collector" for "allowed" after "period", added "or she" after "he", and substituted "that" for "such" after "respect to" in the third sentence. Amended by Stats. 2004, Ch. 194 (SB 1832), in effect January 1, 2005. Amended by Stats. 2005, Ch. 264 (SB 555), in effect January 1, 2006.

Note.—Stats. 1984, Ch. 866, also provided that no appropriation be made or reimbursement required.