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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) After obtaining and recording a judgment pursuant to § 47-1396, the Mayor may:
(1) Convey the property to a land bank; or
(2) Sell the real property at a public auction pursuant to subsection (b) of this section.
(b) If the Mayor intends to sell a real property at a public auction, the Mayor shall publicly notice any Class 3 and 4 Properties that will be sold at a public auction as follows:
(1) In not fewer than 2 newspapers of general circulation in the District that are published once every 2 weeks, the Mayor shall publish a public notice stating the listed real property will be sold at public auction and at the place named in the public notice; and
(2) The Mayor shall include the real property in a list of real property published on the Office of Tax and Revenue's website. The listing shall contain the following:
(A) A description of the real property, by premises address, taxation square, suffix, and lot number, or parcel and lot number;
(B) The name of the person who last appears on the Mayor's tax roll as the owner of the real property; and
(C) The minimum bid required to purchase the property.
(3) The Mayor may sell the real property at auction for an amount less than that required from the owner to redeem the real property.
(4) Before any sale at a public auction, the potential purchaser shall demonstrate that:
(A) He or she has the financial resources available to rehabilitate the property;
(B) He or she has experience rehabilitating properties or has a contract or agreement with a person or organization that has experience rehabilitating properties;
(C) He or she does not have any unresolved notices of infractions related to housing code or property maintenance violations in the District, if applicable; and
(D) He or she is current on all taxes and liabilities owed to the District.
(5) Before making any bid, a potential purchaser shall have on deposit 20% of the purchase price. The deposit shall guarantee full and final settlement for the purchase. If the required deposit is not sufficient, the real property shall be immediately re-auctioned.
(6) The person making the highest bid shall pay the full bid amount to the District of Columbia within 5 business days after the last day of the sale. If the payment is not received within 5 days after the last day of the sale, 20% of the deposit of the defaulting purchaser shall be forfeited to the District, and the real property shall be deemed to have been bid off to and purchased by the Mayor in the name of the District.
(7) If the highest bid for a property sold pursuant to this subsection exceeds the amount of taxes due on the real property, the excess must be refunded, following payment of any recorded liens, to the owner of the record of the property. In the event that no claim for the excess is received by the Mayor within 3 years after the date of the sale, the Chief Financial Officer shall deposit the excess in the General Fund of the District of Columbia.
(8) After payment is received, the Mayor shall issue a deed for any property purchased by a bidder at a sale held pursuant to this section. The deed shall be prima facie evidence of a good and perfect title in fee simple to the real property.
(c) Real property conveyed to a Land Bank or sold at a public auction pursuant to this section shall be conveyed or sold:
(1) “As is.” There is no guarantee or warranty of any kind, express or implied, relative to: eligibility to build upon or subdivide the property; zoning classification; size; location; fitness for any use or purpose; or any other feature or condition of a foreclosed property sold pursuant to this section; and
(2) To the highest bidder, if the real property is sold at a public auction.
Cite this article: FindLaw.com - District of Columbia Code Division VIII. General Laws. § 47-1397. Post-judgment conveyance or sale; excess. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-viii-general-laws/dc-code-sect-47-1397/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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