ILNews

COA rules company not entitled to surplus funds under agreement

Back to TopCommentsE-mailPrintBookmark and Share

An Owen Circuit judge erred by granting a Colorado company’s petition to claim surplus funds from the tax sale of property belonging to Ora and Leafie Chambers, the Court of Appeals ruled Thursday. The couple signed an agreement that transferred their right of the surplus funds from the sale of their property to Asset Recovery Inc.

In Auditor of Owen County and Treasurer of Owen County v. Asset Recovery, Inc., 60A01-1212-MI-592, the Owen County auditor and treasurer appealed the trial court’s grant of the company’s petition for release of the surplus funds. The purchaser of the Chamberses’ property paid more than the amount required to fulfill the outstanding tax obligations, resulting in surplus of nearly $7,500. The county officials claimed that Indiana Code 6-1.1-24-7.5 invalidates the bill of sale and assignment issued to Asset Recovery.

Under the agreement, the couple would receive nearly $4,500 and Asset Recovery would receive the remainder of the surplus.

The COA found the agreement to be invalid under the statute because it has the primary purpose of paying compensation to recover money deposited in a tax sale surplus fund with respect to property that has been the subject of a tax sale and requires payment of compensation of more than 10 percent of the amount to be collected from the tax sale surplus fund. Asset Recovery would receive 40 percent of the total amount collected from the surplus fund, but is limited to just 10 percent under the law.

“Moreover, as a matter of public policy, the statute is designed to protect the citizens of our state and to regulate the activities of property locator services whose primary purpose is to locate money deposited in tax sale surplus funds by capping the fees at 10 percent of the total amount collected from the surplus fund,” Senior Judge Betty Barteau wrote. “Certainly, elderly property owners are a particular group of the population to be protected by this statute as their vulnerability is often preyed upon. Therefore, it would be error for us to ignore the spirit and objectives of Indiana Code section 6-1.1-24-7.5 by allowing Asset Recovery to be compensated for the recovery of the funds pursuant to the terms of its agreement with the Chamberses.”
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in Indiana Lawyer editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Indiana State Bar Association

Indianapolis Bar Association

Evansville Bar Association

Allen County Bar Association

Indiana Lawyer on Facebook

facebook
ADVERTISEMENT
Subscribe to Indiana Lawyer
  1. All the lawyers involved in this don't add up to a hill of beans; mostly yes-men punching their tickets for future advancement. REMF types. Window dressing. Who in this mess was a real hero? the whistleblower that let the public know about the torture, whom the US sent to Jail. John Kyriakou. http://www.nytimes.com/2013/01/26/us/ex-officer-for-cia-is-sentenced-in-leak-case.html?_r=0 Now, considering that Torture is Illegal, considering that during Vietnam a soldier was court-martialed and imprisoned for waterboarding, why has the whistleblower gone to jail but none of the torturers have been held to account? It's amazing that Uncle Sam's sunk lower than Vietnam. But that's where we're at. An even more unjust and pointless war conducted in an even more bogus manner. this from npr: "On Jan. 21, 1968, The Washington Post ran a front-page photo of a U.S. soldier supervising the waterboarding of a captured North Vietnamese soldier. The caption said the technique induced "a flooding sense of suffocation and drowning, meant to make him talk." The picture led to an Army investigation and, two months later, the court martial of the soldier." Today, the US itself has become lawless.

  2. "Brain Damage" alright.... The lunatic is on the grass/ The lunatic is on the grass/ Remembering games and daisy chains and laughs/ Got to keep the loonies on the path.... The lunatic is in the hall/ The lunatics are in my hall/ The paper holds their folded faces to the floor/ And every day the paper boy brings more/ And if the dam breaks open many years too soon/ And if there is no room upon the hill/ And if your head explodes with dark forbodings too/ I'll see you on the dark side of the moon!!!

  3. It is amazing how selectively courts can read cases and how two very similar factpatterns can result in quite different renderings. I cited this very same argument in Brown v. Bowman, lost. I guess it is panel, panel, panel when one is on appeal. Sad thing is, I had Sykes. Same argument, she went the opposite. Her Rooker-Feldman jurisprudence is now decidedly unintelligible.

  4. November, 2014, I was charged with OWI/Endangering a person. I was not given a Breathalyzer test and the arresting officer did not believe that alcohol was in any way involved. I was self-overmedicated with prescription medications. I was taken to local hospital for blood draw to be sent to State Tox Lab. My attorney gave me a cookie-cutter plea which amounts to an ALCOHOL-related charge. Totally unacceptable!! HOW can I get my TOX report from the state lab???

  5. My mother got temporary guardianship of my children in 2012. my husband and I got divorced 2015 the judge ordered me to have full custody of all my children. Does this mean the temporary guardianship is over? I'm confused because my divorce papers say I have custody and he gets visits and i get to claim the kids every year on my taxes. So just wondered since I have in black and white that I have custody if I can go get my kids from my moms and not go to jail?

ADVERTISEMENT