Michigan Court of Appeals Rules Former Owners Not Entitled to Excess Property Tax Sale Proceeds
Michigan Court of Appeals Rules Former Owners Not Entitled to Excess Property Tax Sale Proceeds
The Michigan Court of Appeals affirmed that under MCL 211.78t, enacted in response to Rafaeli v. Oakland Co. (2020), former property owners must comply with the notice requirements to claim surplus proceeds remaining after a tax foreclosure sale or they forfeit the ability to recover those proceeds. The former property owners failed to give notice of their intent to claim any remaining excess proceeds and appealed the denial of their motion for distribution of remaining proceeds. The court ruled that the notice deadline and procedures satisfy due process, are the exclusive means for a claimant to recover surplus proceeds, and ...
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Source : Bloomberg Tax
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