Massachusetts H4624 amends tax lien procedures to protect property owners' equity after foreclosure.

Massachusetts H4624 amends municipal tax lien procedures to protect property owners' equity after foreclosure. It establishes a special commission to study current practices and recommend changes, including the role of third-party purchasers of tax receivables, statutory interest rates, and the statute of limitations for excess equity claims. The bill mandates notices in multiple languages and requires municipalities to sell or appraise properties within specified timeframes. It also allows former property owners to claim excess equity within 18 months of receiving notice.

Massachusetts H4624 amends tax lien procedures to protect property owners' equity after foreclosure.

Massachusetts H4624 amends municipal tax lien procedures to protect property owners' equity after foreclosure. It establishes a special commission to study current practices and recommend changes, including the role of third-party purchasers of tax receivables, statutory interest rates, and the statute of limitations for excess equity claims. The bill mandates notices in multiple languages and requires municipalities to sell or appraise properties within specified timeframes. It also allows former property owners to claim excess equity within 18 months of receiving notice.