In cases where the sale was made under the original assessment or any previous reassessment, with reference to the improvement, and the property was not redeemed from the sale, the purchaser at the sale is subrogated to the rights of the city with reference to the property upon the reassessment if the purchaser waives all penalties and interest, except the interest as may be provided for in the reassessment, and delivers up for cancellation any certificate or other evidence of sale. If a deed was issued at the sale, the grantee therein, his or her heirs, executors, administrators, successors, or assigns, shall execute a deed of resale and quitclaim of all right, title, and interest in the property under the sale to owner of the property and deliver the deed to the Recorder, so that the owner’s title may be cleared of the sale. The Recorder shall now act as escrow holder of the certificate or other evidence of sale and of the deed pending completion of the reassessment. If the reassessment is not completed, the evidence of sale and the deed shall be returned to the person delivering it. If the reassessment is completed, the certificate or other evidence of sale shall be canceled and placed on file in the office of City Recorder and the deed shall be delivered to the owner of the property specified therein. If any purchaser, their heirs, executors, administrators, successors or assigns fails to comply with this section, they are not entitled to subrogation. In any event, the amount of the subrogation shall not exceed the amount which as been paid to the city on the sale, together with interest at the rate established under this chapter from the date of sale until the date of payment. This amount is to be paid by the city to the purchaser, their heirs, executors, administrators, successors, or assigns if and when the city collects the amount of the reassessment against the property.
(Ord. 333-99, passed 12-14-1998)