An Act To Modify The Process Of Selling Tax-Acquired Properties

LD 1841 modifies Maine's process for selling properties seized by municipalities due to unpaid property taxes. It requires municipalities to send written notices to former owners 30 days before foreclosure (detailing tax relief programs and a deed-in-lieu option), 30 days after foreclosure (about redemption costs), and 90 days before listing for sale (explaining the sale process). The bill mandates that if selling to a new buyer, municipalities must use a sealed bid process or hire a licensed real estate broker (not affiliated with the municipality) to sell at the highest reasonable price. This aims to increase transparency for former owners while standardizing the sale process for municipalities.