Bill > H2937

This bill aims to protect the equity of homeowners facing foreclosure due to unpaid property taxes. The key provisions of the bill are: 1. It requires the land court to authorize a tax taking by the collector after a hearing, during which the court must examine the debt owed and the sufficiency of the notice provided to the homeowner. The court must order a public sale of the foreclosed property and distribute the proceeds, treating the tax title holder as a mortgagee with first priority and the delinquent homeowner as a mortgagor. 2. It mandates that the notice to the homeowner include a clear statement that failure to act will result in the loss of their property. 3. It allows the tax collector to collect rents or other income from the property to satisfy the tax debt, and requires the collector to file a document reflecting that the property was redeemed through such collection. 4. It gives the tax title holder the right to collect rents or obtain payment from the proceeds of a judicial sale, with first priority over all other liens. 5. It limits the ability to challenge a foreclosure decree after the judicial sale and distribution of proceeds, except in the interest of justice.