§ 283.581. Repurchase of defective transfers of tax lien by town.

If the holder of a transfer of tax lien shall present an affidavit to the supervisor whereby it appears that such a transfer of tax lien is invalid, defective or insufficient or that some items therein are void and not a valid lien on the premises covered by such transfer of tax lien, then the supervisor, after a reasonable investigation and determination that such transfer of tax lien is invalid, defective or insufficient in whole or in part and upon the authorization of the town board, may repurchase such transfer of tax lien or items in such transfer of tax lien with interest thereon up to the date of such repurchase at the rate set forth in such transfer of tax lien but at not more than three percentum per annum. But no such repurchase shall be made unless the application therefor is made within five years from the date of such transfer of tax lien.

(§ 577 of the Laws of 1948, Ch. 852; amended by the Laws of 1962, Ch. 386)