H.B. 146

1

COUNTY TAX SALES OF PROPERTY
2 2007 GENERAL SESSION
3 STATE OF UTAH
4 Chief Sponsor: Michael T. Morley
5 Senate Sponsor: Sheldon L. Killpack
6
7 LONG TITLE
8 General Description:
9 This bill amends the Property Tax Act to amend the provisions relating to tax sales.
10 Highlighted Provisions:
11 This bill:
12 . defines terms;
13 . limits the amount that certain tax sale purchasers may receive from a subsequent
14 sale of property bought at a tax sale when the purchaser owns an undivided interest
15 in the real property sold during the tax sale;
16 . provides that certain tax sale purchasers may not object to a subsequent sale of the
17 tax sale property under certain circumstances; and
18 . makes technical changes.
19 Monies Appropriated in this Bill:
20 None
21 Other Special Clauses:
22 None
23 Utah Code Sections Affected:
24 ENACTS:
25 59-2-1351.7, Utah Code Annotated 1953
26
27 Be it enacted by the Legislature of the state of Utah:

28 Section 1. Section 59-2-1351.7 is enacted to read:
29 59-2-1351.7. Partial interest tax sales.
30 (1) For purposes of this section:
31 (a) "Tax sale interest purchaser" means an owner of an undivided interest in a parcel of
32 tax sale property that bid for and purchased the undivided interest:
33 (i) at a tax sale in accordance with Section 59-2-1351.1 ;
34 (ii) on or after July 1, 2007; and
35 (iii) if the undivided interest in the tax sale property equals 49% or less.
36 (b) "Tax sale property" means a parcel of real property that was sold in whole or in part
37 at a tax sale in accordance with Section 59-2-1351.1 .
38 (2) If a parcel of tax sale property is sold, a tax sale interest purchaser may only receive
39 from the sale of the tax sale property, an amount equal to the greater of:
40 (a) the amount the tax sale interest purchaser paid for the undivided interest in the tax
41 sale property at the tax sale plus 12% interest; or
42 (b) the tax sale interest purchaser's pro rata share of the sale price of the tax sale
43 property based on the percentage of the individual interest the tax sale interest purchaser holds
44 in the tax sale property.
45 (3) A tax sale interest purchaser may not object to the sale of the tax sale property if the
46 tax sale interest purchaser receives an amount in accordance with Subsection (2).




Legislative Review Note
as of 1-25-07 8:26 AM

Office of Legislative Research and General Counsel