CS for SB 1504 - Tax Deed Sales

• Requires tax certificate holders to pay all costs to bring property to sale (property information searches, mailing, recording) at time of application, with 30-day deadline or the tax deed application is canceled.

• Establishes a notice of tax deed application to be recorded in official records, which provides constructive notice to subsequent property interest holders and remains effective for 1 year.

• Creates standardized forms and procedures for notifying parties of surplus funds from tax deed sales and filing claims within 120 days, with failure to file resulting in a permanent bar to claims (except for original property owners).

• Authorizes tax deed recipients to directly pay off governmental liens and then claim reimbursement from surplus funds with the same priority as the original lienholders.

• Applies to tax deed applications filed on or after October 1, 2018, with an effective date of July 1, 2018.