§ 47-1347. Payment of purchase price at tax sale.

Current through October 23, 2012

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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(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.)

HISTORICAL AND STATUTORY NOTES

Effect of Amendments

D.C. Law 14-282 substituted "20% of the deposit" for "the deposit".

Temporary Amendments of Section

For temporary (225 day) amendment of section, see 12(jj) of Tax Clarity and Recorder of Deeds Temporary Act of 2002 (D.C. Law 14-191, October 5, 2002, law notification 49 DCR 9549).

For temporary (225 day) amendment of section, see 12(jj) of Tax Clarity and Related Amendments Temporary Act of 2003 (D.C. Law 14-228, March 23, 2003, law notification 50 DCR 2741).

Temporary Addition of Section

For temporary (225 day) addition of section, see 7 of Real Property Tax Clarity and Litter Control Administration Temporary Amendment Act of 2001 (D.C. Law 14- 8, June 13, 2001, law notification 48 DCR 5916).

Emergency Act Amendments

For temporary (90 day) addition of section, see § 7 of Real Property Tax Clarity and Litter Control Administration Emergency Act of 2001 (D.C. Act 14- 22, March 16, 2001, 48 DCR 2706).

For temporary (90 day) amendment of section, see § 12(ii) of Tax Clarity and Recorder of Deeds Emergency Act of 2002 (D.C. Act 14-381, June 6, 2002, 49 DCR 5674).

For temporary (90 day) amendment of section, see § 12(jj) of Tax Clarity and Related Amendments Emergency Act of 2002 (D.C. Act 14-456, July 23, 2002, 49 DCR 8107).

For temporary (90 day) amendment of section, see § 12(jj) of Tax Clarity and Related Amendments Congressional Review Emergency Act of 2002 (D.C. Act 14-510, October 23, 2002, 49 DCR 10247).

Legislative History of Laws

For Law 13-305, see notes under § 47-901.

For Law 14-282, see notes following § 47-902.