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Montana Title 15. Taxation § 15-18-114. Distribution of redemption proceeds

Current as of January 01, 2024 | Updated by Findlaw Staff

(1) When the county is in possession of a tax lien that is redeemed, the money received from the redemption, including penalties and interest but not costs, must be distributed to the credit of the various funds to which the taxes would have originally been distributed and in the same proportion as the taxes would have originally been distributed.

(2)(a) When an assignee is in possession of a tax lien that is redeemed, the county treasurer shall distribute to the person listed as the assignee on the assignment certificate provided for in 15-17-323, and in the record kept by the county treasurer the amount the assignee paid the county for the property tax lien plus any subsequent amount paid pursuant to 15-18-112 plus interest, as specified in 15-16-102, from the date of payment until the date of redemption. Any money remaining after distributing redemption proceeds to the assignee must be distributed pursuant to subsection (1).

(b)(i) The distribution must be made by the county treasurer to the assignee at the address listed on the assignment certificate within 30 days of redemption.

(ii) If the money distributed to the assignee is returned unopened to the county treasurer, the treasurer shall give notice as provided in 7-1-2121 stating that:

(A) the county treasurer is in possession of money belonging to the assignee for the redemption of the delinquency on the property named in the tax lien certificate;

(B) the money must be held by the county treasurer for a period of 1 year from the date of publication; and

(C) if the money is not claimed by the assignee within the 1-year period, the assignee relinquishes all claim to the money and the money must be credited to the county general fund.

(3) The notice required in subsection (2)(b)(ii) must be made at least annually, but the 1-year period described in subsection (2)(b)(ii)(B) may not begin until the date notice is given.

(4) The county treasurer shall keep an accurate account of all money paid in redemption, including a separate accounting of other delinquent taxes, interest, penalties, and costs, and when and to whom distributed.

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Cite this article: FindLaw.com - Montana Title 15. Taxation § 15-18-114. Distribution of redemption proceeds - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-15-taxation/mt-st-15-18-114/

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