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5300-5303 Installment Plans: Redemption Certificates

5300. GENERAL APPLICATIONS
Most counties use mechanical or photocopying methods to prepare copies of their abstract sheets to serve as redemption certificates. The recommended form of a redemption certificate (form SCO 5-06) is displayed in this manual for the benefit of those counties still issuing a separate certificate upon the redemption of tax-defaulted property and for properties that are subject to the tax collector's power to sell.

5301. REDEMPTION CERTIFICATES ON COMPUTER EQUIPMENT
Notwithstanding any other provision of the Revenue and Taxation Code, by resolution of the board of supervisors, all entries required to be made on the certificate shall be entered into the electronic data processing equipment if no physical document of the redemption certificate is prepared. The data shall be stored so it can be made readily available to the public in an understandable form. The redemption certificates must contain:

1) The year of tax-default;

2) A description of the property being redeemed (when a portion of the property is redeemed, the certificate shall show the portion being redeemed);

3) The total amount for which the property was tax-defaulted;

4) The total amount, including penalties, cost and fees;

5) The name of the person making the payment; and,

6) The date of redemption.

5302. DESCRIPTION OF PROPERTY ON CERTIFICATES
Property on the redemption certificate should be described exactly as it was when it became tax-defaulted. If the property was tax-defaulted by reference to a parcel number that has been changed, both the old and the new parcel numbers should be listed as follows:

For a partial redemption: Parcel __________ (new), portion of ____________ (old)

If renumbered: Parcel __________ (new), formerly ____________ (old)

NOTE: If the property has become subject to the tax collector's power to sell, the redemption certificate should give, in addition to the parcel number, a legal description of that portion of the property segregated for redemption purposes.

5303. UNDER INSTALLMENT PLAN
Upon receipt of the final payment due under an installment plan, the redemption certificate must contain:

1) The amounts used in computing the total redemption amount when the plan was initiated;

2) The total interest included in installment payments previously made (this includes the interest paid with installment payments made under the current plan, pursuant to Revenue and Taxation Code section 4336);

3) The interest due on the unpaid balance of the current plan (M-5228);

4) Credit for all prior installment payments made, plus the interest paid;

5) The remaining amount required to redeem the property (Rev. & Tax. Code §4225); and,

6) The redemption fee.