Town of Islesboro, ME Chapter 357 Foreclosed Property, Disposal of

[HISTORY: Adopted by the Board of Selectmen of the Town of Islesboro 7-6-2011. Amendments noted where applicable.]

§ 357-1 Considerations for taking title.

A. It is the policy of the Board of Selectmen to provide for the disposal of tax-acquired property.

B. Prior to foreclosing a tax lien the Board shall determine whether it is in the best interest of the Town to take title to the property. Considerations include but are not limited to possible environmental remediation costs; possible welfare costs; possible demolition; possible maintenance costs; and increased liability. The Board of Selectmen shall ensure that an article be placed in the warrant of every Annual Town Meeting that states in effect:

To see if the Town will vote to authorize the Selectmen on behalf of the Town to dispose of any personal property regardless of how obtained and any real estate acquired by the Town for nonpayment of taxes on such terms as they deem advisable and to execute quit-claim deeds, if applicable, for such property. Property to be disposed of shall be advertised and sold by sealed bid except for the purpose of clearing title or reconveyance to a prior owner.

C. A copy of that article shall be attached to the thirty-day foreclosure notice when sent to the owner of the property to be foreclosed. In addition, the following procedure for reconveyance to a prior owner shall be sent with the thirty-day foreclosure notice.

§ 357-2 Procedure to reconvey foreclosed property.

To obtain reconveyance of the foreclosed property, this procedure shall be followed:

A. The prior owner (or heir/s) shall write to the Board of Selectmen to request the return of the property within 30 calendar days after the date of foreclosure.

B. The Board shall decide at a public meeting whether to approve the reconveyance.

C. If the Board approves a reconveyance, the prior owner (or heir/s) shall pay the following funds prior to the reconveyance on schedule determined by the Board:

(1) All back taxes and interest due;

(2) All current taxes levied whether due or not;

(3) Certified mailing costs and any processing costs;

(4) Attorney's fees for creation of release deed;

(5) Recording fees for placing lien, for the deed(s) and all lien releases.

D. The Town shall not be required to provide any additional notification to the property owner regarding this procedure.