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Officials brief council committee on state change limiting municipal claims on foreclosure surplus
Summary
Lawrence City officials told the Ordinance Committee on March 11 that changes to Chapter 60 of Massachusetts law effective Nov. 1, 2024, require municipalities to act more quickly after foreclosure to identify and, if required, return surplus equity to former owners.
Lawrence City officials told the Ordinance Committee on March 11 that changes to Chapter 60 of the Massachusetts law governing collection of real estate taxes — effective Nov. 1, 2024 — alter how municipalities must handle surplus equity when a property is foreclosed for unpaid taxes.
David Coppola, an attorney representing the treasurer-collector’s office, described the change as a response to a 2023 U.S. Supreme Court decision in a Minnesota case. Under the revised Chapter 60, municipalities that foreclose must notify…
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