Bill > H4791

This bill aims to enhance protections for property owners in municipal tax lien procedures in the Commonwealth of Massachusetts. Key provisions include: - Defining "excess equity" as the surplus amount above taxes, interest, fees, and costs after a property is foreclosed and sold or retained by the judgment holder. The former owner is entitled to any excess equity. - Requiring detailed notices to property owners about the tax lien process, including the potential for foreclosure and how to redeem the property. - Increasing the time period for a property owner to file a motion to vacate a foreclosure decree from 1 year to up to 5 years in certain cases. - Establishing a special commission to study current property tax collection practices, the role of tax receivable purchasers, and recommendations for changes to benefit both property owners and municipalities. - Requiring that all notices be provided in language understandable to the least sophisticated consumer, as well as in the 7 most common languages in the Commonwealth. The overall goal is to provide greater transparency and protections for property owners facing municipal tax liens and foreclosures.