Join us on LinkedIn Follow us on Twitter Like us on Facebook Follow us on Instagram
 
  OCTOBER RESEARCH STORE SUBSCRIBE LOG IN
AddControlToContainer_DynamicNavigation3
The Legal Description > News > Idaho adopts surplus proceeds after government sale statute

Idaho adopts surplus proceeds after government sale statute

Email A Friend Printer Friendly Version
0 comments
Excess Equity Watch, Legislative Developments
Monday, April 15, 2024

The Idaho Legislature passed legislation that seeks to close a loophole of government taking surplus proceeds in excess of debts owed.

Click here to register for our complimentary Excess Equity webinar.

Currently, when the state government takes property for outstanding property tax debts, they can sell the property and retain the amounts owed for the debt. They are to then pay the remaining proceeds to the former property owner.

The bill’s statement of purpose states, “A loophole exists in Idaho code where the government could transfer the property to another government entity and consequently not disburse any amount back to the former property owner. Thus, the property owner would lose any equity in the property. This legislation prevents a government entity from doing so.”

It states, “In addition to any other powers granted by law, the board of county commissioners may at their discretion, grant to or exchange with the federal government, the state of Idaho, any political subdivision or taxing district of the state of Idaho or any local historical society which is incorporated as an Idaho nonprofit corporation which operates primarily in the county or maintains a museum in the county, with or without compensation, any real or personal property or any interest in such property owned by the county, excluding such property acquired by tax deed on or after July 1, after adoption of a resolution by the board of county commissioners that the grant or exchange property is in the public interest. Notice of such grant or exchange shall be as provided in Subsection 1 of this section and the decision may be made at any regularly or specially scheduled meeting of the board of county commissioners. The execution and delivery by the county of the deed conveying an interest in the property shall operate to discharge and cancel all levies, liens, and taxes made or created for the benefit of the state, county or any other political subdivision or taxing district and to cancel all titles or claims of title including claims of redemption to such real property asserted or existing at the time of such conveyance. However, if the property conveyed is subject to a lien for one or more unsatisfied special assessments, the lien shall continue until all special assessments have been paid in full. At no time shall a lien for a special assessment be extinguished prior to such special assessment having been paid in full. Any property conveyed to any local historical society by the county shall revert to the county when the property is no longer utilized for the purpose for which it was conveyed.”

Keep up with the latest state developments regarding the Tyler v. Hennepin County Supreme Court case by visiting our Excess Equity Watch library by clicking here.  

Today's other top stories
Appeals court hears dispute between mortgage assigner, insurer
Insurance Data Protection Act introduced to Senate
Trump administration proposes cutting $491 million from CISA budget
FHFA director accuses NY AG of mortgage fraud
Colorado passes bill to create title insurance industry advisory group


COMMENT BOX DISCLAIMER:
October Research is not responsible for the comments posted on its websites by readers. We will do our best to remove comments that include profanity or personal attacks or other inappropriate comments.
Comments:

Be the first to leave a comment.

Leave your comment
Please enter a comment.
CAPTCHA Validation
CAPTCHA
Code:
Please enter the word displayed in the image above. Please enter the word displayed in the image above.
: 
Please enter your name.
: 
Please enter your email address.
This field must contain a valid email address.
Your Email is for reporting purposes only. It will NOT be displayed.
Popularity:
This article has been viewed 1657 times.
News by Topic   News by Edition   In-depth Reports   Events   Subscribe
Court Report
Cybersecurity
Excess Equity
Industry News
Legislative Developments
Regulatory Updates
Remote Online Notarization
The Blotter
The TRID Journey
 
March 31, 2025
April 14, 2025
April 28, 2025
May 26, 2025
Archives
 
2025 State of the Industry
Cybersecurity Today
Technology as a Compliance Tool
Real Estate Compliance Outlook
Title Insurance Alternatives
eClosing Security
Attorney State Perspectives
Technology as a Compliance Tool
Archives
 
 
National Settlement Services Summit (NS3)
Women's Leadership Summit (WLS)
Webinars
 
Newsletter Subscriptions
Free Email Updates
Try a Free Edition
  About   Library   Other Publications  
 
The Legal Description
Contact / Editors
Advertise
Request a Media Kit
Social Media
Are You An Expert?
Subscriber Agreement
 
Blog - Tuesdays with Mary
Cybersecurity Central
Court Cases
Keys to Real Estate Podcast
Legislation
Position Papers
Regulations
RON Resource Center
 
The Title Report
RESPA News
Valuation Review
Dodd Frank Upate
 
                 
Copyright © 2000-2025 The Legal Description
An October Research, LLC publication
3046 Brecksville Road, Suite D, Richfield, OH 44286
(330) 659-6101, All Rights Reserved
www.thelegaldescription.com | Privacy Policy
VISIT OUR OTHER WEBSITES
> The Title Report
> RESPA News
> Dodd Frank Update
> Valuation Review
> NS3 The Summit
> Women's Leadership Summit
> October Research, LLC
> The October Store


Loading... Loading...
Featuring:
  • Delivery 3X a week plus breaking news as it happens
  • Comprehensive title insurance industry news
  • Recent acquisitions, mergers, real estate stats
  • Exclusive in-depth coverage of the industry's hottest stories
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Comprehensive Dodd-Frank coverage
  • The latest information from the CFPB
  • Full coverage of Congressional hearings
  • Updates on all agency actions
  • Analysis of controversial provisions
  • Release of newest studies and reports
Sign up today and...
  • Be one of the first to know where NS3 is being held
  • Learn about NS3 speakers and sessions
  • Save on registration with Super-Early Bird rates
  • Discover the networking opportunities NS3 offers
  • Find out if CE credits will be offered for your area
  • And much more
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Preview the latest RESPAnews.com Top Story
  • RESPA related headline news
  • Quote of the Week
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Legal, regulatory and legislative information impacting the settlement services industry
  • News from HUD, Congress, state legislatures and other regulatory agencies
  • Follow the lobbying efforts of all the major national real estate services organizations.
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • The industry's only full-time newsroom
  • Relevant, up-to-date appraisal industry news
  • Covering the hottest stories and industry trends
NEWS BY TOPIC
NEWS BY EDITION
IN-DEPTH REPORTS
EVENTS
LIBRARY
FREE EMAIL UPDATES
ABOUT
SUBSCRIBE
Court Report
Cybersecurity
Excess Equity
Industry News
Legislative Developments
Regulatory Updates
Remote Online Notarization
State AG Enforcement
The Blotter
Current Edition
April 14, 2025
March 31, 2025
March 17, 2025
March 3, 2025
Archives
2025 Voice of the Title Agent
2025 State of the Industry
Cybersecurity Today
2024 Title Technology
eClosing Innovations
Real Estate Compliance Outlook
Title Insurance Alternatives
Archives
National Settlement
Services Summit (NS3)
Women's Leadership
Summit (WLS)
Webinars
Evolving Realtor Relationships
2025 Economic Outlook Series
CFPB's Shake-Up & Its Impact
Artificial Intelligence for Title
Industry and Regulatory Outlook
RESPA Updates You Need to Know
Strategies post-NAR settlement
Evolving Consumer Relationships
Fraud Threats Facing Title
Excess Equity
2024 Economic Forecast Series
Securing Your Cyber Network
Webinar Archives
Cyber Solutions Showcase
Keys to Real Estate Podcast
Blog - Tuesdays with Mary
Excess Equity Watch
Cybersecurity Central
eClosing Solutions Showcase
Executive Interview Series
RON Resource Center
Case Law
Legislation
Position Papers
Regulations
By Year
By State
2012
2011
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
West Virginia
Wisconsin
Wyoming
Comment Letters
White Papers
Testimony
The Legal Description
Contact Us
Advertise
Request a Media Kit
Are You An Expert?
Subscriber Agreement
Social Media