This bill amends the municipal sale of foreclosed property process to allow for a deed in lieu of foreclosure from the delinquent property owner. The bill amends the sale process to require mandatory notices to the delinquent owner and sets forth a series of actions required before a municipality can complete its sale of the property. Deductions for the expenses of the municipality are allowed to be deducted from the funds received from the sale of foreclosed, tax-acquired property above what the former owner owed the municipality.

Statutes affected:
Bill Text LD 1841, SP 724: 36.943