05-09-2017, 09:52 PM
OK, so I found my answer as to what can they do next:
What happens to the property if the Municipality does not receive any tenders?
The Municipality has two years from the date of the failed tax sale to vest the property to the Municipality or re-advertise the property for sale.
The city should be able to take over ownership at this point, so from that point of view the tax sale could even be viewed as a success as the city will now have full control over the property. Assuming I understood this correctly!
What happens to the property if the Municipality does not receive any tenders?
The Municipality has two years from the date of the failed tax sale to vest the property to the Municipality or re-advertise the property for sale.
The city should be able to take over ownership at this point, so from that point of view the tax sale could even be viewed as a success as the city will now have full control over the property. Assuming I understood this correctly!