ME LD1841

Allows property owners to offer a deed in lieu of foreclosure as an alternative to the tax sale process

Establishes three mandatory notification requirements: 30 days before foreclosure (including available tax relief programs), 30 days after foreclosure (with redemption amount), and 90 days before listing for sale

Gives municipalities the option to sell tax-acquired properties through a sealed bid process instead of requiring use of a licensed real estate broker

Requires sealed bid sales to be advertised for 3 consecutive weeks in local newspapers, with a minimum bid reflecting what is owed to the municipality and award to highest qualified bidder

Reduces former owner payment to 10% of excess sale proceeds when municipality retains property for municipal use or development, and allows municipalities to deduct demolition, improvement, and publication costs from excess funds