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Legislative update: Supreme Court ruling requires process to allow surplus claims in property foreclosures
Summary
The committee received an informational update on implementing a recent Supreme Court ruling that requires a process for claiming surplus proceeds from tax‑foreclosure sales.
The House Committee on Revenue held an informational session on property‑foreclosure law following a recent Supreme Court decision that, according to the committee’s counsel, narrowly requires creation of a process by which surplus sale proceeds can be claimed.
Representative Levy (committee counsel) told members the court required a method "whereby surplus can be claimed." Two principal issues identified for lawmakers and county officials were: (1) who must receive notice and when, and (2) whether counties should be…
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