Foreclosure Process

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New Tax-Foreclosure Process

In 1999, the Michigan State Legislature created a new, streamlined system for returning tax-reverted properties to productive use. This legislation, Public Act 123, opened the door for communities to play an active roll in eliminating blight and recycling abandoned properties.

This system gives county governments the ability to control tax-foreclosed properties. This enables us  to use these properties as an asset in community redevelopment. Reducing the time it takes to reclaim abandoned and tax delinquent property, the law makes itless likely that properties will fall into the hand of speculators. Equally important, the new system enables counties to help homeowners with financial trouble avoid foreclosure.

Below is a diagram explaining the process a property goes through after tax-foreclosure has occurred.

 property_aquisition_process_pic.jpg

 

For more information regarding the Genesee County Treasurers Tax Foreclosure process click here.

MISSION

The Land Bank's mission is to restore value to the community by acquiring, developing and selling vacant and abandoned properties in cooperation with stakeholders who value responsible land ownership.

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