Home Equity Theft: Tyler v. Hennepin County
Home equity theft is legal in a dozen states. It typically occurs when the government seizes a property where the owner is delinquent on their tax bill and sells the property. Instead of returning the money that exceeds the amount owned, the government keeps that extra money giving it a windfall. In some cases, the county will sell the tax debt to a private investment company which will demand the money from the property owner, and then get handed the property by the county when the owner can not pay the tax bill.
This supreme court case stems from a 94-year-old woman who moved into a senior residence in 2010 and fell behind on property taxes, ultimately owing the country $2,300. After penalties, interest, and related costs, the debt bill was $15,000. The county seized and sold her $40,000 condo. You would think they would return the $25,000 that is the difference between the debt and the selling price but the county kept it.
If the Supreme Court rules against home equity theft, it will bring a swift end to this unconstitutional practice that I believe constitutes theft. Dozens of nonprofit organizations, free market thinkers, and all sorts of people are rallying against this form of theft.
Works Cited:
https://www.wsj.com/articles/the-supreme-court-takes-up-home-equity-theft-tyler-fair-debt-property-private-investors-pacific-legal-fbec50cf?mod=hp_opin_pos_4#cxrecs_s
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