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1997 SESSION

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SB 1120 Surplus proceeds from the sale of property sold for delinquent taxes.

Introduced by: Charles R. Hawkins | all patrons    ...    notes | add to my profiles

SUMMARY:

Surplus proceeds from the sale of property sold for delinquent taxes. Authorizes any county or city receiving surplus funds from the sale of property sold for delinquent taxes to pay over the funds to the former owner, his heirs or assigns, following a request and a showing of entitlement to the surplus. Localities are also authorized to pay over the surplus funds to the Treasurer for disposition as unclaimed property. Currently, the owner of property sold for delinquent taxes must claim the surplus proceeds within two years following the confirmation of the sale. If not claimed within this period, the surplus proceeds must be paid by the clerk of circuit court to the local government.


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