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4 <br /> OWGE 00= <br /> BOAM op amssiowms Acticn Agenda <br /> ACTION AGMMA ITEM ABSTMCT Item No. <br /> Subject: IN REM FORE-CLOSURE <br /> REVENUE Publicfk-ar <br /> 2es X <br /> Attachirent(s) Infoximtion Contact: <br /> COPY OF G.S. 105-375 and work sheet JOHN T. HORNER <br /> Phc)ne Nmber: 7328181 ext. 432 <br /> PUFPME: To contider, authorizing the Department of Revenue to implement the "in rem <br /> foreclasur6 method" according to G.S. 105-375 as an alternate to the mortgage <br /> type foreclosure method (G.S. 105-374) <br /> NEED: In rem is ai, slmple -aad inexpensive method of enforcing payment -of`tAkes <br /> necessarily'llevid, for the requirement. It is based on the recognition <br /> that all peisons onwing interests in real property know or should know <br /> what the tax lien on their real property may be forclosed and the property <br /> sold for failure to pay taxes. . It allows the Tax Collector to foreclose <br /> on real estate properties through an administrative procedure rather <br /> than havingithe work performed by an attorney. While the method is based <br /> on all properties, it is especially useful on properties where the values <br /> are two small to justify the high expense intailed in the traditional <br /> mortgage foreclosure method. <br /> A copy of the procedural --steps to be followed is attached together with a <br /> sample letter to the property owner and a list of the costs to be billed <br /> to the deli"quent taxpayer in processing the foreclosure to date of payment. <br /> DVACT: Return inactive real estate accounts to the active role. <br /> RECOMMENDATION' <br /> Approve',the pin rem foreclosure method and direct the Tax Collector to <br /> initiate pro!cedures by filing the Certificate of Taxes Due with the <br /> Clerk of Sup!prior Court. <br />