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4120-4122 Preparing the Abstract: Content

4120. FORM
Form SCO 4-01 is an example of an abstract with a redemption certificate as part of the form.

4121. REQUIREMENTS
The abstract must contain all information relating to unpaid items as shown on the rolls from which it was prepared (Rev. & Tax. Code §4372). This includes the data required by Property Tax Rule 252 (Title 18, California Code of Regulation).

NOTE: A guide must be provided to any abbreviations used on the abstract (Rev. & Tax. Code §156).

A summary of the amounts required to redeem a parcel, including tax-defaulted supplemental bills, is covered in M-3200 and M-5102. The abstract of delinquent secured taxes and certificate of redemption should be in a format similar to the example illustrated in form SCO 4-01.

The abstract sheet should clearly show:

1) Each fiscal year of delinquent taxes;

2) The amount of taxes that were tax-defaulted (M-5103 and M-5104);

3) The delinquent penalties (M-5110);

4) The cost charges (M-5110);

5) The redemption penalties (M-5111 and M-5112);

6) The redemption fee (M-5120 - M-5124);

7) If the property has become subject to a recorded Notice of Power to Sell:

a. The recording information of the Notice of Power to Sell;

b. The recording fee for the Rescission of Notice of Power to Sell (M-5400 et seq.);

c. The $35 fee for obtaining names and addresses of parties of interest (M-5125);

NOTE: The $35 fee pertains only if the property has become subject to the power to sell.

8) Any installment plan of redemption information (M-5400 et seq.); and,

9) The total amount required for redemption.

4122. ADDITIONAL USE OF ABSTRACT
The form may be designed in such a way that a copy may be used as a redemption certificate. Some counties find it desirable to provide space for recording, on either the face or the reverse side of the abstract sheet.

Data may be included relating to:

1) Installment redemption transactions;

2) Publication of the Notice of Intent to Sell Tax-Defaulted Property and/or recorded Notice of Power to Sell Tax-Defaulted Property;

3) Registered notices;

4) The date of attempted sale at auction or by sealed bid; and,

5) Accounting transactions.