§ 47:2211 — Disposition of proceeds

§2211. Disposition of proceeds
The proceeds of a sale pursuant to this Subpart in excess of the statutory impositions,
other governmental liens, costs of the sale, and other costs incurred by the political
subdivision in holding and maintaining the property shall be held by the political subdivision
for the benefit of persons holding an interest in the property for a period of one year from the
date that notice is sent as provided by this Section. No later than thirty days after the date of
the sale, the political subdivision shall notify each tax lien auction party of the excess funds
being held for the benefit of persons holding an interest in the property. Any person holding
an interest in the property may submit an application to receive that person's portion of the
proceeds by submitting an affidavit to the political subdivision asserting the facts necessary
to prove their interest in the property and the proportion of the proceeds to which they are
entitled. If no application to receive the excess bid is received timely, the excess bid shall
revert to the selling political subdivision.

Legislative History

Acts 2008, No. 819, §1, eff. Jan. 1, 2009; Acts 2024, No. 774, §1, eff. Jan. 1, 2026; Acts 2025, No. 411, §1, eff. Jan. 1, 2026.