judicial foreclosure; excess proceeds sale

Summary

The bill lets the purchaser of a tax lien—or the state—file a lawsuit to end a property owner's right to redeem the lien after three years, and it sets rules for selling the property when the sale would generate excess proceeds. It requires the court to decide if an excess‑proceeds sale is reasonable, using a $2,500 threshold and detailed cost disclosures. The changes affect property owners, lien purchasers, and county treasurers by clarifying foreclosure timelines and auction procedures.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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