The forfeited land commissions created in this article for each of the counties of the State shall effect the sale of lands forfeited and bid in for the various forfeited land commissions of the State by the county auditors or the tax collectors of the several counties of the State in pursuance of Section 12-51-55. All lands deeded to the forfeited land commission of any county shall be held by it as assets of the county and sold to the best interest of the county. It shall sell and dispose of such lands in such a manner and upon such terms and conditions as to it may appear to be for the best interest of its county, but the terms of sale shall not in any case provide for a longer term than ten years for the full payment of the purchase price of such property and shall be secured by a first real estate mortgage upon the property sold.
HISTORY: 1962 Code Section 65-2908; 1952 Code Section 65-2908; 1942 Code Sections 2168, 2170; 1932 Code Section 2168; 1926 (34) 920; 1929 (36) 125; 1933 (38) 212; 1934 (38) 1366; 1936 (39) 1349, 1575; 1938 (40) 1717; 2015 Act No. 87 (S.379), Section 59, eff June 11, 2015.
Code Commissioner's Note
At the direction of the Code Commissioner, the reference to Section 12-49-510 was changed to Section 12-51-55.
Effect of Amendment
2015 Act No. 87, Section 59, inserted "or the tax collectors" in the first sentence, and twice substituted "the county" for "the county and State" in the second sentence.