Section 12-501 - Lienholder sale of seized property.
§ 12-501. Lienholder sale of seized property.
(a) Notice required.- Before exercising the right to sell property that has been seized under this title, a lienholder shall give to the forfeiting authority:
(1) written notice of the intention to sell;
(2) copies of documents giving rise to the lien;
(3) an affidavit under oath by the lienholder:
(i) stating that the underlying obligation is in default; and
(ii) stating the reasons for the default.
(b) Release of property on request.- On request of the lienholder, the forfeiting authority shall release the property to the lienholder.
[An. Code 1957, art. 27, § 297(r)(2); 2001, ch. 10, § 2.]