Excess Proceeds or Municipal Theft?
If you don’t pay your taxes, your home can be foreclosed to pay your tax debt. But what happens when the value of your property is greater than the debt you owe? Is it, as many municipalities say, simply excess proceeds, or is it theft?
After purchasing his property, Mr. DiPietro was repeatedly frustrated in his attempts to make money from it by the Town of Bolton and the Commonwealth of Massachusetts. The actions of the Town of Bolton and the Commonwealth of Massachusetts made it impossible for Mr. DiPietro to pay the taxes he owed on his property. Eventually, the Massachusetts Superior Court found that Mr. DiPietro owed the town of Bolton approximately $60,000 in taxes, interest, fines, and legal fees.
The town of Bolton foreclosed on his property, which according to Mr. DiPietro’s lawsuit, was worth at least $370,000. If that sounds like theft to you, Mr. DiPietro agrees. Which is why he filed suit in the United States District Court for the District of Massachusetts.
The courts said that Mr. DiPietro owed the Town of Bolton $60,000, but they deprived him of the $310,000 of equity he had in the property without due process...
Read the full article... watch and learn from Constitutional Expert Paul Engel; there is always much more to learn back at America Out Loud: https://americaoutloud.com.
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