California Government Code ARTICLE 8 - Delinquent Assessment Acquisition and Sales Law of 1915

• Section 53860.
  This article may be cited as the “Delinquent Assessment Acquisition and Sale Law of 1915.”(Added by Stats. 1949, Ch. 81.)
• Section 53861.
  As used in this article, “local agency” means city, county, municipality, or political subdivision.(Added by Stats. 1949, Ch. 81.)
• Section 53862.
  To the exclusion of other bidders, a local agency may acquire any accrued lien, or property required to be sold for nonpayment of an assessment...
• Section 53863.
  The legislative body may designate one of its officers to act for it at the sale.(Added by Stats. 1949, Ch. 81.)
• Section 53864.
  A lien or property acquired by a local agency pursuant to this article may be released, assigned, sold, or otherwise disposed of by it pursuant...
• Section 53865.
  The local agency shall not release, assign, sell or dispose of any such lien or property unless there is first paid to it a sum...
• Section 53866.
  If after public notice the lien or property cannot be sold for that total, the legislative body may by a four-fifths vote sell the lien...
• Section 53867.
  If by resolution adopted by a four-fifths vote the legislative body determines that the property cannot be sold for a sum of money at least...
• Section 53868.
  The legislative body shall determine the fair market value of the property or lien and that value is the minimum price receivable on the sale.(Added...
• Section 53869.
  By ordinance or resolution the legislative body may provide the notice and the procedure of sale by which the lien or property may be sold...
• Section 53870.
  The notice shall specify:(a) The time and place of sale.(b) The office of the legislative body or clerk thereof where a description of the property may be...
• Section 53871.
  The notice shall be published at least once in a newspaper of general circulation published in the county where is located any part of the...
• Section 53872.
  The sale shall be not less than twenty-one days after publication of the notice and shall be at public auction.(Added by Stats. 1949, Ch. 81.)
• Section 53873.
  On the execution of the deed in a sale for cash or on the execution of an agreement for sale in a sale on terms,...
• Section 53874.
  The deed or agreement is prima facie evidence of regularity of all proceedings from the assessment of the property to and including the execution of...
• Section 53875.
  On default of the purchaser in a sale on terms, the right to redeem is revived.(Added by Stats. 1949, Ch. 81.)
• Section 53876.
  A local agency may provide and expend a fund or expend money from the general fund to purchase or acquire an accrued lien or property...

Last modified: October 22, 2018