BULLETIN-2023-5: Tax Title Foreclosure Surplus Proceeds

The Division of Local Services (DLS) Municipal Finance Law Bureau (MFLB) has a new Bulletin. Bulletin 2023-5 discuss a recently decided United States Supreme Court case, Tyler v. Hennepin County, 598 U.S. 631 (2023). As a result of that decision, there is uncertainty as to whether or not tax title foreclosure surplus proceeds will need to be returned to property owners. The Bulletin notes that DLS will not object to a community temporarily holding any such surplus proceeds in an agency account until there is a directive from the courts on this matter.