SB 582 - This act allows surplus revenues from foreclosure sales to be deposited in the county treasury to be held and used for the benefit of the person entitled to such moneys or to the credit of the county school fund. A purchaser at any sale subsequent to the third offering of any land or lots, whether by the collector or a trustee, shall be entitled to immediate possession of the collectors deed with no redemption period following such third offering. The collector's or trustee's deed shall have priority over all other liens or encumbrances on the property sold except for real property taxes and federal liens with any surplus being paid to the county treasury. Where the purchaser of tax delinquent property is a county or the City of St. Louis, the proceeds from the purchase will first be applied to payment of costs incurred and advanced with a pro rata distribution to the funds entitled to receive the taxes, and then any excess amount will be held in the county treasury for the use and benefit of the person entitled to such proceeds. For properties subject to a third year tax sale the one-year redemption period is decreased to ninety days, and there is no redemption period for post-third year sales. In order to redeem property, an owner or occupant must also pay the costs of a title search and mailing of notification. The ninety day notice to holders of publically recorded deeds or encumbrances is decreased to forty-five days after the purchase, except that no notice is required for post-third year sales. JASON ZAMKUS