News & Analysis as of

Foreclosure › Tax Liability › Property Tax

Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of... more +
Foreclosure is a legal process whereby a lender seeks to force the sale of a mortgaged property in order to recover the balance of a delinquent loan. Recently, the foreclosure process has been the subject of greater legislative and judicial scrutiny after systemic abuses were uncovered during the widespread foreclosure crisis resulting from the Great Recession. less -
Oliva Gibbs

How Safe Are Your Severed Minerals From the Tax Man? Surface Tax Sales, Severed Minerals, and Bush v. Yarborough Oil & Gas, LP

Oliva Gibbs on

“You never own your [real property]; the government does. You’ll be paying them property tax forever.” —Robert Kiyosaki, author of Rich Dad, Poor Dad In Bush v. Yarborough Oil & Gas, LP, the Texas Eighth District Court of...more

Miller Canfield

Michigan Property Owners Entitled to Surplus Value When Foreclosed Property Transferred to Land Bank, Court of Appeals Rules

Miller Canfield on

Miller Canfield previously reported on Rafaeli, LLC v Oakland County (Rafaeli), in which the Michigan Supreme Court held that counties are not allowed to retain sale proceeds that exceed the taxes owed on a foreclosure...more

Pullman & Comley - For What It May Be Worth

Equity Forfeiture in Tax Foreclosures – On the Way Out?

Pullman & Comley - For What It May Be Worth on

In 14 of our 50 states, a taxing authority which forecloses real estate for unpaid taxes is entitled to keep the full auction proceeds even beyond the owner’s debt obligation.  Enabled by laws known as “surplus retention...more

Bricker Graydon LLP

New 6th Circuit opinion puts the brakes on expedited tax foreclosures by county land banks

Bricker Graydon LLP on

​​​​​​​You knew the wheels were falling off the (medieval) cart when the federal 6th Circuit Court of Appeals rattled off English legal theory from the year 1470, right?   Advocates for county land banking activities in...more

Dickinson Wright

Michigan Property Tax and Civil Tax Collection Suits

Dickinson Wright on

Civil suits to collect property taxes as an in personam debt are now limited to the person who owned the property when the tax became due, but the Michigan act does not completely prevent collection of property taxes as an in...more

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