Certificate of option for treasurer's deed - assignability

(1) The treasurer shall prepare, sign, and retain for safekeeping or deliver to the purchaser a certificate of option for treasurer's deed describing the property and confirming, except in the case of the purchaser described in section 39-11.5-101 (14)(c), that payment has been made. The treasurer may charge the purchaser a fee in an amount equal to the amount established in section 38-37-104 (1)(b)(IV) for each such certificate.

(2) The certificate of option for treasurer's deed is assignable by endorsement, and an assignment thereof, when entered upon the record of sales in the offices of the county clerk and recorder and the treasurer, vests in the assignee or the assignee's legal representative all the right and title of the purchaser.

(3) Upon the issuance of a certificate of option, if the lawful holder has not redeemed pursuant to section 39-11.5-111, the treasurer shall disburse the remaining proceeds that the lawful holder is entitled to from the public auction to the lawful holder to receive them.