McGlinchey in the News
SCOTUS Rules County Can’t Keep Tax Foreclosure ProfitsRead Time: 1 min
Member James Sandy (Cleveland) was interviewed for Inside the Consumer Financial Protection Bureau (CFPB) Volume 34:12 on June 12, 2023. He discusses the implications for servicers of Tyler v. Hennepin County.
Sandy said some states will have to update the tax foreclosure distribution process through their legislatures, given the ruling.
“Unless/until legislation is enacted, I think lienholders have valid arguments that any excess sale proceeds should be distributed to them in accordance with their lien priority similar to the judicial foreclosure process,” he said.
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