Senate Bill 2703 Summary

• Establishes expedited quiet title and foreclosure procedures for municipalities to rehabilitate abandoned or blighted property acquired with community development block grant funds.

• Requires municipalities to record notice of intent and make good faith efforts to identify interested parties through property signage, deed examination, tax assessor records, voter registration, and Secretary of State searches.

• Mandates municipalities provide notice to identified interested parties at least 15 days before hearing by certified mail, regular mail, and property posting; alternatively allows notice by publication in newspapers for three consecutive weeks.

• Permits chancery court to hear petitions within 30 days as preferential cases and allows interested parties to redeem property only by paying all taxes, interest, penalties, fees, and demonstrating substantial rehabilitation before hearing date.

• Vests fee simple title absolutely in the municipality upon judgment, extinguishing all liens and interests except recorded easements, deed restrictions, and environmental covenants; allows appeals to Mississippi Supreme Court within five days with bond requirement.